RAG may list

IN a deal which could net as much as Euro 6 billion, major German coal mining and chemical company RAG could be heading for an initial public offering (IPO).
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Staff Reporter

According to press reports, the German government has agreed for the company to list its shares in 2006, with the IPO proceeds go to the German state.

Major RAG shareholders, RWE AG and ThyssenKrupp AG, had agreed to turn over their shares in the coal mining concern to the German government for the symbolic price of Euor 1 per share, according to Der Spiegel. The German government will take over about Euro 4 billion of company debt.

Meanwhile AFX International Focus reported WestLB AG would not comment on reports it would lead the consortium of banks charged with the IPO.

AFX also said the companies involved declined to comment on the report.