Coal Asia Holdings, owner of the country's second largest coal reserves and with the potential to become the biggest producer of high-grade bituminous coal, reported it plans to list P800 million worth of shares. It reported it applied with the Securities and Exchange Commission (SEC) for the listing at most by the fourth quarter of the year. Vicente Arana, president said that the funds raised will be used for exploration and mine development. When listed, it will help boost market confidence in energy stocks due to continued rising demand for thermal coal fuels both in the domestic and international power-generating sector.