April 12, 2012 / 7:25 PM / 6 years ago

UPDATE 1-Foresight Energy Partners sees IPO of up to $300 mln

* Raises IPO size from $100 million - SEC filing

* Names Citigroup, Morgan Stanley as IPO underwriters

April 12 (Reuters) - Coal miner Foresight Energy Partners L.P., owned by billionaire Christopher Cline, raised the size of its planned initial public offering to $300 million.

In its latest filing with U.S. Securities and Exchange Commission, the company, which operates underground mines in the Illinois Basin, named Citigroup and Morgan Stanley as the underwriters for the offering.

Foresight Energy had initially expected to raise up to $100 million through the IPO.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

The company, which plans to list its units on the New York Stock Exchange under the symbol “FELP,” intends to distribute the IPO proceeds to Foresight Reserves, which owns the firm’s general partner.

Foresight Reserves is owned by energy-focused private equity firm Riverstone Holdings LLC and The Cline Group.

The filing did not reveal how many units the company planned to sell or their expected price.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below