Global coal giant mulls listing on London Stock Exchange

World’s largest coal miner Coal India Ltd is considering to get listed on the London Stock Exchange (LSE). Its proposal is on an introductory stage according to the international news agency.

The development comes ahead of the listing of NTPCs masala bonds at London Stock Exchange (LSE) and Singapore Stock Exchange this month.

The Calcutta-based public sector miner shares got listed on Bombay Stock Exchange in the year 2010.

The company is looking forward to spend Rs. 8,500 crore on capital expenditure in the ongoing fiscal.

Coal India has already held roadshows in the US and London and Edinburgh in the UK to attract foreign institutional investors.

Coal India officials; however, said there was no immediate plan for an overseas listing. LSE spokeswoman Alexandra Ritterman also declined to comment on "speculative future listings".

Almost all of the company’s assets are in India but it is trying to buy assets in Australia and South Africa as it looks to secure supplies of coking coal used to make steel. 

On Friday share of CIL has opened at Rs.282 which has touched a high of Rs.284.35 and a low of Rs.281.50 and on 11:29 am the stock is quoting at Rs.282.10 per share.