It is ICG’s second filing with the Securities and Exchange Commission and increases the amount to be raised by about $US50 million.

ICG was formed in May last year by New York billionaire Wilbur Ross, who together with other investors acquired the assets of failed Horizon Natural Resources.

The coal producer said in April it would sell $US250 million in common stock, but did not disclose the number of shares at the time. ICG shares are currently traded on the Pink Sheets Electronic Quotation Service at around $US14.05 a share.

While the company did not provide an estimated price range for the offering in Monday's filing it has applied to list its shares on the New York Stock Exchange under the symbol ICO.

UBS Investment Bank, Lehman Brothers, Bear, Stearns & Co., Goldman, Sachs & Co., JPMorgan and Morgan Stanley were listed as underwriters for the offering.

The company expects to use the money raised in the IPO to retire all of its debt associated with the purchase of Anker Coal Group and CoalQuest Development.

ICG owns or controls 510 million tonnes of steam coal reserves and 564 million tonnes of coal resources in Illinois, Kentucky and West Virginia.