Shenhua to IPO, one of HK's largest

China Shenhua Energy Co, the country's biggest coal producer, could raise up to US$3.64bn in its planned 3bn-share initial public offering, making it one of the largest ever in the Hong Kong market, the Wall Street Journal reported. If Shenhua prices its shares at the high end of its target range of US$0.93-1.19, it would become the third largest IPO deal in Hong Kong history. When completed, the IPO would make Shenhua the world's fifth-largest publicly listed coal producer by output.