Holding Company
Pike River Coal Ltd is listed on the New Zealand and Australian stock exchanges. It raised NZ$85 million in additional capital for expanding the mine in 2007. As of August 2007, over NZ$100 million had already been invested into developing the mine.
The development was valued at NZ$2.3 billion and was initially held by New Zealand Oil & Gas (29% stake plus options and bonds) as well as the two Indian companies, Gujarat NRE Coke Limited (17% share), and Saurashtra Fuels Private Limited (15% share), with the two latter companies intending to buy about half the running production of the mine's coal. After the IPO, the ownership percentages changed to NZ Oil and Gas 31%, Gujarat NRE Coke 10%, Saurashtra Fuels 8.5%, with private minority shareholders holding 7.9% and the remaining 42.5% having been sold to the general public.
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