QR banks on commodities story for IPO

13 Oct 2010

Australian investors are considering the biggest IPO in the country for 13 years after QR National, which owns Queensland’s coal railway network, moved closer to an offer that could be worth as much as A$5bn ($4.94bn).

The company filed an offer document this week that said the state of Queensland will sell 1.46bn-1.68bn shares, with a marketing range of A$2.50-A$3 a share and a A$2.80 ceiling for individual investors.

Depending on the number of shares sold and the various final prices, the total raised ...

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