U.S. coal miner Peabody Energy Corp. returned to the New York Stock Exchange yesterday after emerging from a year-long $8 billion chapter 11 bankruptcy with far less debt and an industry champion in the White House, Reuters reported. Shares in Peabody, the world's largest private-sector coal producer, were trading at $29.80 in late morning, down from an opening price of $31.50 but still above the $25 per share paid in a recent rights offering open only to the company's creditors. Early market trading put Peabody's market capitalization at around $4 billion, compared to the company's estimated value of $3.1 billion used in its rights offering. Peabody's new stock listing coincides with increased demand from Asia and anticipation of eased regulation under U.S. President Donald Trump that has fueled investor enthusiasm for coal.
