Cloud Peak Energy Files Registration Statement for Proposed IPO
08/11/2008 - Rio Tinto subsidiary Cloud Peak Energy files registration statement with the U.S. Securities and Exchange Commission regarding its proposed initial public offering of common stock.
Cloud Peak Energy Inc., a wholly owned subsidiary of Rio Tinto, has filed a registration statement on Form S-1 with the United States Securities and Exchange Commission (SEC) regarding the company’s proposed initial public offering (IPO) of its common stock.
Cloud Peak Energy comprises most of Rio Tinto Energy America’s North American coal assets. It is the second-largest producer of coal in the U.S. and in the Powder River Basin, operating three of the five largest coal mines in the region.
Rio Tinto expects to make a final decision on whether to pursue a listing of Cloud Peak Energy’s shares or to pursue another form of divestment once these options have been more fully explored.
The company has filed a registration statement relating to these securities with the SEC, but it has not yet become effective. The lead underwriter for the offering is Credit Suisse Securities (USA) LLC.
Rio Tinto is a leading international mining group headquartered in the U.K., combining Rio Tinto plc, a London listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminum, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe, and southern Africa.
