Shenhua plays it safe with IPO

World''s largest IPO of the year priced towards the bottom end of range.

Shenhua Energy raised $2.95 billion yesterday June 8 from a 3.063 billion share offering priced at HK$7.50 per share. This represented the bottom quarter of an IPO range of HK$7.25 to HK$9.25 per share, although specialists say the leads had only ever really been realistically talking to accounts on a range of HK$7.25 to HK$8.25.

The H share deal also priced some hours later than expected after a lengthy pricing discussion...

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