China Coal to issue 1.5b A-shares in mainland IPO

China Coal Energy Co Ltd, the country's No 2 coal producer, said today it planned to issue 1.525 billion A-shares in its proposed Shanghai A-share initial public offering.

The company also said it made a profit of about 5.1 billion yuan ($NZ927.8 million) in 2007 based on Chinese accounting standards, and 6.01 billion yuan under international accounting standards, in a statement to the Hong Kong Stock Exchange.

On Monday, China's securities regulator said it would review China Coal's plan for a Shanghai initial public offering on Friday.