Thursday April 24, 08:21 AM
Czech miner NWR's share price could fall 25-30 pct without Debiensko - report
PRAGUE (Thomson Financial) - The value of NWR's share price could decline by as much as 25 to 30 percent if the coal miner is not able to secure a licence for mining coal in Poland's Debiensko mine as the group has planned, daily Mlada Fronta Dnes reported, citing analysts.
The coal miner announced in early April plans to list shares on stock markets in London, Prague, and Warsaw, and said yesterday that it sets its initial public offering (IPO) price range at 10.75 pounds to 13.25 pounds per share, valuing the offering at 892 million to 1.1 billion pounds.
NWR, which owns Czech Republic's largest hard coal mines OKD, had said it applied for a mining licence in Debiensko in March and expects to receive it in several months.
However, the daily said there was no guarantee that Polish authorities will grant NWR the licence to mine Debiensko mines, which are owned by a Polish state-run mining company.
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