Yongcheng Coal & Elec to seek US$500 mln-$1 bln IPO

China Yongcheng Coal & Electricity Group Co. is planning an initial public offering of between US$500 million to US$1 billion early next year, a person familiar with the deal said Tuesday.

"The company is going through restructuring, so it's not sure whether it can shoot for late this year," the person said.

The Henan-based company originally sought a dual listing on both Hong Kong and Shanghai bourses, but may now be able to launch an A-share listing only, the person said.

UBS AG (UBS) has been mandated to arrange the deal, the person said.