Queensland Readies $5B IPO For Coal-Hauling Railroad

Law360, New York (October 11, 2010, 4:17 PM EDT) -- The northeastern Australian state of Queensland has told its residents it plans to hold a maximum $4.96 billion initial public offering for the state-owned QR National Ltd. railroad, the world's largest rail transporter of coal from mine to port for export markets.

The state said it plans to sell between 1.46 billion and 1.68 billion shares of the railroad, Queensland's oldest, at a price of between $2.45 and $2.95 per share, in a bid to capitalize the company for expected growth amid increasing demand for coal...
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