Shenhua Energy: warming global investors?

One of the most symbolically important IPO''s from China gets the green light from the Hong Kong Stock Exchange.

The HKSE's listing committee gave its formal approval for the IPO of China Shenhua Energy Company Ltd late yesterday May 12 paving the way for the official beginning of pre-marketing. Under the lead of CICC, Deutsche Bank and Merrill Lynch, formal roadshows will begin around May 26, with pricing scheduled for the week beginning June 6.

The $2.5 billion to $3 billion deal will have four tranches including a Japanese POWL Public Offering Without Listing run by Nomura. The Japanese house will also act as a co-lead in the international tranche alongside ABN AMRO, JPMorgan, Lehman and Morgan Stanley.

Because of the large...

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