Coal Asia to go public
Coal Asia Holdings Inc. will be the fourth company that will turn public this year after the Philippine Stock Exchange approved its application.
Coal Asia applied for an initial public offering (IPO) that amounts to Php800 million which is set to start on this year’s fourth quarter.
The mining company is offering its IPO at Php1 per share.
Abacus Capital and Investment Corp. are the underwriters of Coal Asia for the offering.
The company seeks to improve its retail investors and use the proceeds for the explorations of Davao Oriental and Zamboanga-Sibugay for more coal mining projects.
GT Capital, East West Bank, and Calata Corp. were the earlier addition to the PSE this year.