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Shenhua jumps 83% on Shanghai trading debut
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China coal miner Shenhua Energy nearly doubled on its trading debut in Shanghai Tuesday.

 

The country's biggest coal miner opened at 68 yuan (US$9.05) per share, jumping 83.83 percent from its initial price of 36.99 yuan.

 

The miner raised a record 66.6 billion yuan in the country's largest domestic initial public offering.

 

Shenhua's 1.8 billion yuan-denominated shares attracted a record number of IPO subscriptions and were priced at 36.99 yuan each, the top of their indicative range.

 

Shenhua Energy's Hong Kong traded shares gained 1.8 percent to 45.80 Hong Kong dollars (US$5.87) yesterday. 

 

(Shanghai Daily October 9, 2007)

 
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