| Shanxi Coking Coal eyes HK IPO |
| Tuesday,July 04,2006 Posted: 07:35 BJT(2335 GMT) Shenzhen Daily |
BEIJING, July 4 -- Shanxi Coking Coal Group, one of China’s biggest coke producers, aims to raise at least HK$7.8 billion (US$1 billion) in an initial public offering (IPO) in Hong Kong next year, the South China Morning Post reported yesterday. The newspaper cited unidentified sources as saying Shanxi Coking Coal had mandated Morgan Stanley, JP Morgan, Deutsche Bank and BOC International to arrange the share sale. The sources said the listing would involve major restructuring and it was hard to say whether the company could go public in the first half of next year. The paper said Shanxi Coking Coal has seven main subsidiaries, including Shanghai-listed Shanxi Coking Group and Shenzhen-listed Xishan Coal Electricity Group. The group has 28 production mines and 18 coal-washing factories with an annual production capacity of 65.8 million tons of raw coal and an annual washing capacity of 45 million tons of raw coal, the paper added. It gave no further listing details. |
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