ICG sells millions of shares, moving to Putnam County

By Steve Korris | Jan 5, 2006

ASHLAND, Ky. – International Coal Group, owners of the mine that exploded at Tallmansville, recently sold 21 million shares in a public offering at $11 per share, according to a Dec. 12 press release on the company's website.

The release said underwriters had until Jan. 5 to buy up to 3.15 million more shares.

According to the website, the company owns 10 mines in Appalachia and one in Illinois. For 2004, the company reported net income of $4.2 million after taxes, on $136.1 million in revenue.

The company plans to move from Ashland, Ky., to new headquarters under construction in Putnam County.

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