Golden Energy Mines is planning to raise about $550 million through an initial public offering (IPO) in November, Reuters reports. The offering has been delayed a number of times in 2011 because of uncertainty over its valuation. India’s GMR Infrastructure will be an anchor investor for the listing, acquiring a stake of between 10 percent and 20 percent. The coal unit of Indonesia’s biggest conglomerate Sinar Mas Group appointed Sinar Mas Sekuritas as the lead underwriter and is in talks with UBS and CIMB Securities as global arrangers.
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