China Growth Stocks

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PUDA Announces Public Offering

No wonder there were no stocks to short...


TAIYUAN, China, Dec. 8, 2010 /PRNewswire-Asia/ -- Puda Coal, Inc. (NYSE Amex: PUDA), a supplier of high grade metallurgical coking coal used to produce coke for steel manufacturing in China and a coal mine consolidator of twelve coal mines in Shanxi Province, China, today announced that the Company intends to offer to sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. Macquarie Capital and Brean Murray, Carret & Co. will act as joint lead managers and bookrunners in connection with the offering. Puda Coal expects to use the net proceeds of the offering, together with available cash, to fund the previously-announced coal mine acquisitions and their consolidation and construction.