RPT-Czech coal miner OKD parent plans IPO in autumn

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PRAGUE, March 22 (Reuters) - New World Resources (NWR), the parent company of Czech black coal mining group OKD, is planning an initial public offering in Prague and London this autumn, its owner told the Web edition of Czech Business Weekly on Thursday.

"The intention is to be on the market in the fall this year," Zdenek Bakala told the weekly's Web site www.cbw.cz in an interview.

He said the plan was to float up to one third of shares in NWR, the sole owner of the eastern Czech OKD mines.

"If there's a large acquisition on the table, then we probably would look at a primary (issue), or a combination. That's something to be determined later on when we understand the capital needs of NWR," Bakala said.

A spokesman for OKD confirmed the comments but gave no further details.

The group had earlier released its intention to enter the public markets, but gave no details.

Bakala is one of the main owners of RPG Industries, the parent firm of NWR.

OKD would be among top stocks by size on the Prague bourse. The company, based in the eastern Czech city of Ostrava, had net profit of 5.33 billion crowns ($255 million) in 2005, after 5.11 billion in 2004.

Sales from mining activities reached 42.3 billion crowns.

It extracted 12.75 million tonnes of black coal in 2005.