Monday April 21, 04:35 PM
Czech NWR shares could begin trade in Prague in several weeks - exchange chief
PRAGUE (Thomson Financial) - The head of the Prague Stock Exchange said shares in Czech coal miner New World Resources (NWR) could begin trade in several weeks after the listing was conditionally accepted by the bourse's listing committee today.
Admission for trading in NWR shares on Prague's main market depends mainly on approval of the group's prospectus by regulators in the Netherlands, where NWR is registered, the exchange said in a release.
NWR plans an initial public offering by the end of the second quarter with a share listing on the Prague, London and Warsaw stock exchanges to raise money for mining projects in Poland and expansion at existing sites.
The company has not disclosed how much it intends to raise, but analysts estimated the value of the offering at up to 35 billion crowns, or 1.4 billion euros.
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