Coronado down 15% at open.

coronada-coal.png

Despite a lacklustre response to its IPO, Coronado Resources (ASX:CRN) proceeded as scheduled when it went live on the ASX today around 12pm.

Investors took an immediate hit as prices opened around $3.80 vs the very ambitious $4.50 ask, and continued to fall having now settled around $3.70 at the time of this post.

Far from a a startup, Coronado’s is considered leading international producer of high-quality metallurgical coal and this effort was simply part of a wider strategy.

The 2018 Scorecard has been updated as per usual, fingers crossed for those who jumped in.