China Shenhua Energy, the country's largest coal producer, has attracted a record 2.67 trillion yuan (355.6 billion U.S. dollars) in subscriptions for its A share initial public offering (IPO), the China Securities Journal reported Wednesday.
The figure exceeded the 2.26 trillion yuan received by China Construction Bank (CCB), the country's second largest lender by assets, around a week ago.
Analysts said the investors chased Shenhua shares for almost certain price jump on debut and on expectation of rosy corporate earnings boosted by rising coal prices.
The substantial subscriptions would likely to make the coal firm to raise 66.58 billion yuan (8.9 billion U.S. dollars) by selling the 1.8 billion shares at 36.99 yuan, the higher end of the price range between 34.99 yuan and 36.99 yuan.
The IPO size of China Shenhua would then exceed that of the CCB, which raised 58.05 billion yuan in its Shanghai IPO, to become the largest share sale on the Chinese mainland.
Chinese government has been encouraging the red-chip companies to launch domestic IPOs to increase equities supply in a bid to mop up excess liquidity and help cool the stock market where the key index has more than doubled this year.
The company has said it would use the proceeds to build or upgrade its coal, power and transportation systems and purchase strategic assets.
By the end of this June, it had proven reserves of 5.99 billion metric tons mainly in northern China's Shanxi Province and Inner Mongolia Autonomous Region. Enditem (one U.S. dollar equals 7.5089 yuan)
中国股票杂志星期三报道说，中国最大的煤矿生产商中国神华能源首发A股创记录地募集金额达2.67万亿元（3556亿美圆），这个数字超过中国第二大资产借贷银行建设银行在一周前创下的2.26万亿元。
分析家了说投资者追逐神华股份是由于对其首次发行股价上涨非常确定，以及煤矿价格上涨公司赢利有望增加。大量申购很可能使煤矿公司会以发行价格区间34.99-36.99元的上限36.99元的股价出售18亿股而融资665.8亿元。CCB在上海首发融资58.05亿元，中国神华将超过其IPO规模，成为中国本土最大的股份出售公司。
中国政府鼓励红筹公司通过上市来增加股票供应来吸收过剩的流动资金，帮助冷却今年来股指已经成倍增长的股票市场.
公司声称所得收益将用于煤，电和运输系统的升级以及购买战略资产。
六月末，位于中国北部的山西省和内蒙古自治区煤矿储量已达59.9亿公吨。附（一美圆等于7.5089人民币）
