"A GLG Partners unit delayed an initial public offering of Russian coal miner Sibanthracite Plc, citing market weakness and a lack of interest in mining stocks.
The company had insufficient investor demand on the last day of the sale, said three people with knowledge of the process. GLG Emerging Markets Growth Fund may consider selling its stake in Sibanthracite off the market, one of the people said, asking not to be named as the details aren’t yet public.
The fund, a unit of the U.K.’s GLG, had attempted to sell a 25 percent stake in the supplier of high-grade anthracite coal at $7 to $9.50 per depositary receipt in London. Investors have recoiled from mining stocks as prices for coal and other commodities tumble amid weakening demand."
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