SHANGHAI, Jan 20 (Reuters): Shaanxi Coal Industry Co Ltd has raised 4 billion yuan ($661 million) in the largest listing in mainland China since authorities ended a 14-month freeze on the IPO market late last year.
Companies' fund raising hopes have been hit after China's stock market watchdog said last week it would police IPO pricing behaviour, concerned about a return to overpricing.
Shaanxi Coal scaled back its fund raising by about 60 percent from a target set this month, which in turn had been cut from initial hopes of 17.2 billion yuan in 2011, before China suspended the IPO market to carry out reforms.
Shaanxi Coal, which will become China's third-largest listed coal miner by volume, sold 1 billion shares at 4 yuan each, it said in a statement to the Shanghai stock exchange. That represents 10 percent of its outstanding shares.
Shaanxi Coal raises $661m in China\\\'s largest IPO since 2012
FE Team | Published: January 21, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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