Ambre Energy, a coal miner with operations in the United States and Australia, on Monday named lead managers for an initial public offering in Australia in the second quarter, which media reports indicated could be worth AUD 200 million.

The Australian Financial Review said that Ambre, which counts resources Capital Funds among its investors, is targeting a AUD 1 billion market valuation through the float.

The company said CBA Equities, RBC Capital Markets and RBS Morgans have been mandated as lead managers for the deal.

Equity offerings have been few and far between in Australia with investor appetite crippled by the raging euro zone debt crisis. Australian equity issues fell nearly a quarter in 2011.

(Sourced from Thomson Reuters)