China Coal to launch Shanghai IPO

摘要

Beijing-based China Coal Energy Co. is aiming for a 2.9 billion dollars IPO in Shanghai in a bid to generate funds for developing production. According to a statement to the Hong Kong stock exchange today, the company would offer 1.53 billion Yuandenominated A shares in Shanghai. Based on the current Hong Kong share prices, the sale is estimated to net upwards of 2.9 billion dollars.