Coal Producer Contura Energy Withdraws $150 Million IPO
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Contura Energy, a coal producer formed out of Alpha Natural Resources’ restructuring, withdrew its IPO on Thursday. It had filed to raise $150 million by offering 6 million shares (100 percent insider) at a price range of $23 to $27.
The Bristol, TN-based company was founded in 2016 and booked $1.6 billion in sales for the 12 months ended March 31, 2017. It had planned to list on the NYSE under the symbol CTRA. Citi, Jefferies, Credit Suisse, UBS Investment Bank, Barclays and BMO Capital Markets were set to be the joint bookrunners on the deal.
Source: (August 10, 2017) Renaissance Captial
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