Contura Launches IPO

On July 31, Contura Energy Inc. announced it has launched a proposed initial public offering of 6 million shares of its common stock at an anticipated initial offering price between $23 and $27per share, according to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (SEC). All of the shares of common stock are being offered by the selling stockholders named in the registration statement. In addition, the selling stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock. The shares are expected to trade on the New York Stock Exchange (NYSE) under the symbol “CTRA.” 

Citigroup, Jefferies, Credit Suisse and UBS Investment Bank are acting as the bookrunning managers, and Citigroup and Jefferies are acting as representatives of the underwriters for the proposed offering. Barclays and BMO Capital Markets are also acting as bookrunning managers, and Clarksons Platou Securities Inc., FBR Capital Markets & Co. and Seaport Global Securities are acting as co-managers for the offering. This offering will be made only by means of a prospectus. 

Contura Energy is a private, Tennessee-based company with affiliate mining operations across multiple major coal basins in Pennsylvania, Virginia, West Virginia and Wyoming. Contura Energy reliably supplies both metallurgical coal to produce steel and thermal coal to generate power.