Foresight Energy LP, a spinoff of Foresight Reserves with 3 billion tons of coal reserves in the Illinois basin, announced terms for its IPO on Monday. The St. Louis, MO-based company plans to raise $350 million by offering 17.5 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Foresight Energy LP would command a fully diluted market value of $2.6 billion.
Foresight Energy LP, which was formed in 2012 and booked $968 million in sales for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol FELP. Foresight Energy LP initially filed confidentially on February 18, 2014. Barclays, Citi, Morgan Stanley, J.P. Morgan, Goldman Sachs and Deutsche Bank are the joint bookrunners. It is expected to price during the week of June 16, 2014.
