Cloud Peak Energy (CLD) Files $500M IPO Cloud Peak Energy Inc.
(NYSE: CLD) filed a registration statement with the SEC for an initial public offering of its common stock. The proposed maximum aggregate offering price is $500 million.
The company plans to list on the NYSE under the symbol "CLD". The offering is being made through Credit Suisse, Morgan Stanley and RBC Capital Markets.
Cloud Peak Energy is the third largest producer of coal in the U.S. and in the Powder River Basin, or PRB, based on 2008 coal production Rio Tinto carve-out Cloud Peak Energy sets IPO terms and timing Cloud Peak Energy, a carve-out of Rio Tinto's western US coal business and the country's third largest producer, announced terms for its IPO on Monday.
The Gillette, WY-based company plans to raise $520 million by offering 30.6 million shares at a price range of $16.00 to $18.00. At the mid-point of the proposed range, Cloud Peak Energy will command a market value of $534 million.
Cloud Peak Energy, which was founded in 1993 and booked $1.4 billion in sales over the last 12 months, plans to list on the NYSE under the symbol CLD. Credit Suisse, Morgan Stanley, and RBC Capital Markets are the lead underwriters on the deal, which is expected to price next Thursday, Nov. 19
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