Shenhuas IPO sets record in Shanghai

China’s Shenhua Energy, the country’s biggest coal producer, raised 66.58 billion yuan (US$8.86 billion) in China’s largest domestic initial public offering (IPO). Shenhua said it had sold 1.8 billion new local currency A shares, or 9% of its expanded share capital, at 36.99 yuan (US$4.92) a share. The companys IPO attracted a record 2.66 trillion yuan (US$354.05 billion) of subscriptions from retail and institutional investors. (September 27, 2007)