"Niche coal producer Sibanthracite set a price range Monday for shares in a planned London market debut that would enable the selling shareholder to raise up to $214 million for its 25 percent stake.
Sibanthracite said the GLG Emerging Markets Growth Fund would sell its one-quarter stake in a price range between $7.00 and $9.50 per global depositary receipt, or GDR, in an initial public offering. A two-week investor road show starts Monday, to be followed by pricing.
The offering would value the stake being put up for sale at between $158 million and $214 million. Of the shares on offer, 20 percent are being reserved for eligible existing investors of the GLG fund."
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