Contura Energy (CTRA) postpones IPO

Contura Energy postpones IPO; was expected to price 6.0 million shares within a range of $23-$27

The company's principal selling stockholders unanimously determined that proceeding with the offering under current market conditions would undervalue the company. Accordingly, the company has withdrawn its registration statement on file with the U.S. Securities and Exchange Commission (SEC).

• CTRA is a miner of met and steam coal with its operations comprising of six mining complexes.
• The IPO was expected to price last night and open for trading this morning.
• The lead underwriters on the deal were Citigroup and Jefferies.