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The government has launched a QRN share offer website with the offer expected to open on October 10.
The initial public offering of the coal hauler is expected to be the biggest on the Australian Securities Exchange since the privatisation of Telstra.
QRN television ads have been running nationally for several weeks, while the Queensland Coal Industry Rail Group recently abandoned its $A5.1 billion bid for QRN’s rail infrastructure.
Members of the industry consortium failed to adhere to previous financial commitments before crucial deadlines, causing the bid to collapse.
The bid also failed to get approval from the Australian Competition and Consumer Commission.
The state government expects QRN’s coal chain assets to reach a potential market cap of up to $7 billion after the IPO is made in the last three months of 2010.
Plans to publicly float its coal chain assets were announced last year, as part of a series of public asset sales to reduce debt by up to $15 billion and win back a AAA credit rating for the state.
