Atlas Resources IPO

Indonesian coal miner goes ahead with IPO

Atlas Resources starts bookbuilding for an IPO of up to $125 million with upsize options, while Philippine power producer SMC Global Power postpones its listing plans for now.
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Workers producing coking coal (AFP)
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<div style="text-align: left;"> Workers producing coking coal (AFP) </div>

Indonesian coal miner Atlas Resources decided last Friday to go ahead and launch the institutional bookbuilding for an initial public offering with a base size of up to $125 million, despite the volatile market environment that continues to make life difficult for many other listing candidates. The company, which produces thermal coal for power plants as well as metallurgical coal also known as coking coal for steel production, can increase the offering to as much as $157 million, if an upsize option is exercised in full.

Similar to China Hanking Holdings, a Chinese iron ore producer that listed in Hong Kong last month, sources say Atlas has secured enough...

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