insto - Australian financial markets

The same week as the Queensland Government appointed advisors on the float of the QR National rail assets, the coal industry has revved up its attempt to trump the bid and force a trade sale. 14 of Queensland’s biggest coal companies are talking up their interest in offering to a substantial premium to what the market is currently expected to pay for QR, and intervene before the asset gets to an IPO, valued at between $3 and $7 billion.

But Queensland Treasurer Andrew Fraser said there was currently no offer “on the table from the coal companies.