Coal Asia Holdings is seeking to raise P800 million in an initial public offering scheduled in the fourth quarter of this year to help finance plans to start full commercial production in 2014. The company is selling 800 million primary shares at P1 each, equivalent to 20 percent of its expanded capital after the offering. The deal is being solely arranged by Abacus Capital and Investment Corp. The company is hoping that investors will look past the decline in coal prices and instead focus on broader industry prospects given rising demand for thermal coal fuels both in the domestic and international power-generating sector.