UPDATE 1-Czech miner NWR sells additional shares at 13.25 stg
(Adds share move, details, background) PRAGUE, May 9 (Reuters) - Coal miner New World Resources (NWR) (NWRS.L) (NWRSsp.PR) will sell an additional 12.45 million shares at 13.25 pounds, fully exercising an over-allotment option at its initial public offering, it said on Friday.
The company said the total offer size will be 95.47 million shares or roughly 1.3 billion pounds ($2.54 billion) and that the offer represented about 36.2 percent of the company's shares once the option is exercised.
It priced the IPO on Tuesday at the top of its indicative range of 10.75-13.25 pounds. The offering was 7.3 times oversubscribed at the top price.
The stock was flat in London at 14.35 pounds at 0755 GMT, 8.3 percent above the issue price. It traded 0.07 percent up in Prague at 457 crowns ($27.90), outperforming the main PX index .PX, which was down 1.15 percent.
The selling shareholder is RPGI, owned mainly by Czech financier Zdenek Bakala and Crossroads Capital Investments.
NWR is the full owner of Czech group OKD, which mines coking and steam coal in the east of the Czech Republic. It plans to develop two mines in Poland, across the border from its Czech operations.
NWR's revenue rose 10.7 percent last year to 1.37 billion euros ($2.10 billion) and net profit jumped 94 percent to 196 million euros.
NWR's biggest customers include steel makers such as Arcelor Mittal Steel (MTP.PA) (ISPA.AS) and U.S. Steel (X.N), energy utilities such as CEZ (CEZPsp.PR) and large industrial companies in central Europe. (Reporting by Martin Dokoupil; Editing by Rory Channing)
