Coal Asia Holdings, holder of the country's second-largest coal reserves and with the potential to become the biggest producer of high-grade bituminous coal, filed Monday an application with the Securities and Exchange Commission to conduct an initial public offering in the fourth quarter of 2012. The company plans to list its shares on the Philippine Stock Exchange's first board. Coal Asia Holdings is the parent company of Titan Mining and Energy Corp., which owns mining exploration and development rights in Davao Oriental and Zamboanga Sibugay. Company sources said mine developments were on-track with commercial production of 600,000 metric tons of high grade coal a year scheduled 2014.