Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Queensland Appoints More Banks for Coal Rail Network Share Sale

July 30 (Bloomberg) -- Queensland appointed more banks to help manage a planned initial share sale of the state’s coal tracks and trains, Australia’s biggest railroad, scheduled for the end of this year.

Commonwealth Bank of Australia Ltd. and Wilson HTM Investment Group were named as co-lead managers for the share sale of Brisbane-based QR National, the Queensland state government said in an e-mailed statement. Ord Minnett Group Ltd. and Patersons Securities Ltd. were appointed co-managers.

“These institutions are key to the retail market and have come on board as we look towards a planned listing by year’s end,” Treasurer Andrew Fraser said. The government hasn’t said how much it intends to raise from the share sale.

BHP Billiton Ltd., Xstrata Plc and 11 other coal miners in Australia bid A$4.85 billion ($4.4 billion) in May for the coal railroad in Queensland to head off the state government’s planned initial public offering. Citigroup Inc. is advising the producers on its offer.

Credit Suisse Group AG, Goldman Sachs JBWere, Merrill Lynch, Royal Bank of Scotland Group Plc and UBS AG were named by Queensland in March as joint lead managers for the share sale.

To contact the reporter on this story: Ben Sharples in Melbourne at bsharples@bloomberg.net

To contact the editor responsible for this story: Clyde Russell in Singapore at crussell7@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.