Shenhua raises $8.9 b in year's biggest share sale
China Shenhua Energy raised $8.9 bn in the world’s biggest share sale this year after investors placed more orders for the stock.
By TNN |
HONG KONG: China Shenhua Energy raised 66.6 billion yuan ($8.9 billion) in the world’s biggest share sale this year after investors placed more orders for the stock than in any other domestic offering.
China’s largest coal producer will sell 1.8 billion shares at 36.99 yuan, the highest price indicated, Beijing-based Shenhua said on Wednesday. The Shanghai offer drew at least 2.6 trillion yuan of applications, said two people with direct knowledge of the transaction.Shenhua’s sale surpasses the $8 billion raised by Russia’s VTB Group in May.
China’s largest coal producer will sell 1.8 billion shares at 36.99 yuan, the highest price indicated, Beijing-based Shenhua said on Wednesday. The Shanghai offer drew at least 2.6 trillion yuan of applications, said two people with direct knowledge of the transaction.Shenhua’s sale surpasses the $8 billion raised by Russia’s VTB Group in May.
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