Chinese IPOs

Chinese coal miner seeks $960 million from Shanghai IPO

Huaibei Mining, a Chinese coal miner, has announced plans for the biggest IPO of the year so far.
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Huaibei aims to raise $960 million to upgrade machinery
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<div style="text-align: left;"> Huaibei aims to raise $960 million to upgrade machinery </div>

The waiting list for companies planning an IPO in China continues to get longer, with 11 more companies submitting applications to the securities regulator on Tuesday, bringing the total to more than 670, according to the China Securities and Regulatory Commission CSRC.

The most significant of them, Huaibei Mining, a Chinese coal miner, is looking to raise Rmb6 billion $960 million by selling 2.2 billion new shares in a Shanghai IPO, making it the biggest IPO officially announced so far this year.

The offering accounts for 24.5% of the enlarged share capital of the company. China Galaxy Securities is the bookrunner of the deal, according...

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