Singapore listed Linc Energy has received more than 40 expressions of interest for its Australian coal assets, sources said on Wednesday. As revealed by Street Talk, Linc mandated PAC Partners to handle the dual-track trade/IPO process for its coal division, New Emerald Coal. It is understood interest has stemmed from private equity, miners and commodity houses. Whether those who took an information memorandum lob a first-round offer by July 25 remains to be seen. While some analysts reckon the thermal coal prices are poised to bottom out and bargain hunters maybe drawn into bidding for assets, Whitehaven Coal issued a bearish forecast on the thermal coal market earlier this month, tipping it will remain in oversupply for at least the next six months.
LNC Price at posting:
99.5¢ Sentiment: Hold Disclosure: Held
