The NYSE-listed stock of Consol Energy on Tuesday rose 6.6% following the company’s pre-market announcement that it will separate its coal and natural gas business units into two into two publicly traded companies.
Consol filed a registration statement with the US Securities and Exchange Commission to spin off a public company that will be in charge of the Bailey, Enlow Fork, and Harvey coal mines, in southwestern Pennsylvania, a coal preparation plant, the Baltimore coal export terminal, and undeveloped reserves in Appalachia and the Illinois basin, as well as other assets and liabilities.
