Bowie Resource Partners LP, a private equity-backed MLP with three underground coal mines in Utah, withdrew its plans for an initial public offering on Monday, citing market conditions. Its first and only public filing was in June 2015, with a proposed deal size of $100 million.
Another coal-focused MLP, Foresight Energy LP (FELP), went public in June 2014 and currently trades about 80% below its offer price.
The Louisville, KY-based company was formed in 2015 and had planned to list on the NYSE under the symbol BRLP. Citi, Morgan Stanley, Deutsche Bank, UBS Investment Bank, Credit Suisse and Stifel were set to be the joint bookrunners on the deal.
