Reuters first to report key details on $2.7 bln Coal India IPO

Reuters was first to report on April 23 that the government will appoint six banks in early May and file documents by mid-June for the $2.7 billion stake sale in Coal India, putting a timeline to what is likely to be the biggest share sale in India this year. In an interview with Reuters, the chairman of the world’s largest coal miner also gave details of an equity deal in-the-making with U.S. miner Peabody Energy <BTU.N>, detailing the reserves on offer and putting a likely value to the transaction that could provide U.S and Australian coal to energy-starved Indian firms.