Indonesian coal miner goes ahead with IPO

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.