Hi guys,I was just 'googling' Mr Jury, (no jokes please) and I...

Hi guys,
I was just 'googling' Mr Jury, (no jokes please) and I came across this tidbit that I hadn't seen before. Apologies If it has already been posted I must have missed it.

http://www.lexology.com/library/detail.aspx?g=c65f3f97-3870-4161-aef1-0a59f78ac21e

ASX-listed coal miner Resource Generation’s Managing Director, Paul Jury, has reportedly indicated that Resource Generation is attempting to raise US$230 million in equity through a ‘re-IPO’ of the company as part of an attempt to raise US$630 million for its coal operations in South Africa. In addition to the equity raising, it is reported that Resource Generation is in the process of obtaining binding offers from six banks to provide a US$397 million senior debt facility. Resource Generation announced on 13 November 2012 that the credit approval process is taking longer than expected and that it is trying to obtain the binding offers as soon as possible.

What I find interesting is the idea of a "re-IPO". First time I've seen this used. I understand this to mean that the company (with debt component in place) is marketed to new investors as an IPO with a management roadshow and a price range that values the company in relation to its peers rather than at a discount versus its current share price. My feeling is that SA investors will be targeted. Further comments welcome.

GS