Mainland China’s equity market has burst into life since it reopened following Beijing’s reforms, with investors set to see the largest offering in at least two years.
Shaanxi Coal Industry, one of China’s largest state-owned coal companies, is to meet investors on Thursday for its proposed Rmb9.8 billion $1.6 billion Shanghai listing.
The company plans to issue 1 billion new shares or 10% of the enlarged capital base through the IPO. Pricing is slated for January 15.
BOC International and CICC are joint sponsors, and Citic Securities is financial advisor. The three are also joint bookrunners on the deal.