Fri Aug 26, 2011
SHANGHAI (Reuters) - Shaanxi Coal Industry plans an initial public offering in Shanghai to raise up to 17.3 billion yuan ($2.7 billion) in what could be China's biggest IPO this year.
The China Securities Regulatory Commission (CSRC) said late on Thursday that it would review Shaanxi Coal's IPO application on August 29.
Shaanxi Coal would issue up to 2 billion shares in the offering, according to a draft prospectus posted on the CSRC website.
A successful IPO would make the company the country's third-largest publicly traded coal miner by output after China Shenhua Energy Co Ltd (1088.HK)(601088.SS) and China Coal Energy Co Ltd (1898.HK)(601898.SS), Shaanxi Coal said, adding that the proceeds would fund mining activity and replenish working capital.
It would also be the biggest IPO in the mainland market this year, surpassing Sinohydro Group Ltd's planned $2.5 billion offering.
China's IPO market slowed by a fifth in the first half, lacking the big deals of the year before, with fundraising dominated by smaller companies.
In the first six months, only about a tenth of the companies seeking listings chose to do so on the Shanghai Stock Exchange, with the rest going to the smaller Shenzhen bourse, which houses the Nasdaq-style ChiNext market, Thomson Reuters data showed.
State-owned Shaanxi Coal and Chemical Industry Group Co Ltd SHAANB.UL owns 71 percent of Shaanxi Coal.
China is the world's biggest coal-producing country, with output at 3 billion tonnes in 2009, accounting for about 46 percent of total global production that year.
Shaanxi Coal is headquartered in Xi'an, in the northern Chinese province of Shaanxi, which had known coal reserves of about 170 billion tonnes, the company said.
CICC, BOC International (China) Ltd and Citic Securities are joint underwriters of the IPO.
($1 = 6.390 yuan) (sourced Reuters)
Showing posts with label Shaanxi. Show all posts
Showing posts with label Shaanxi. Show all posts
Friday, August 26, 2011
Monday, March 14, 2011
China exports CT80 coiled tubes for the first time
Monday, 14 Mar 2011
It is reported that Shaanxi Province based Chinese pipe maker Baoji Petroleum Steel Pipe Co has announced that a shipment consisting of its CT80 coiled tubes in diameters of 38.1mm and 44.45mm is now on its way to the Middle East.
The shipment marks the first time CT80 coiled tubes have been exported from China.
CT80 coiled tubes are mainly applied in the oilfield drilling activities.
In June 2009, Baoji Petroleum Steel Pipe produced the product in question for the first time. To date, apart from Baoji Petroleum Steel Pipe, just a few producers in Japan and France can manufacture this kind of product.
Tags : oilfield drilling activities, Japan, France
It is reported that Shaanxi Province based Chinese pipe maker Baoji Petroleum Steel Pipe Co has announced that a shipment consisting of its CT80 coiled tubes in diameters of 38.1mm and 44.45mm is now on its way to the Middle East.
The shipment marks the first time CT80 coiled tubes have been exported from China.
CT80 coiled tubes are mainly applied in the oilfield drilling activities.
In June 2009, Baoji Petroleum Steel Pipe produced the product in question for the first time. To date, apart from Baoji Petroleum Steel Pipe, just a few producers in Japan and France can manufacture this kind of product.
Tags : oilfield drilling activities, Japan, France
Monday, March 7, 2011
Shaanxi to build China’s first coal slurry pipeline
Marh7, 2011 |en.sxcoal
With a total length of 742km and investment up to 6.8 billion yuan, the pipeline will start from Shenmu county, Yulin city, and end at Weinan city, according to Weinan Development and Reform Commission.
The pipeline, to be constructed by Shaanxi Coal and Chemical Industry Group Co., Ltd., will have annual transmission capacity of 10 million tonnes coal slurry, said the commission.
With a total length of 742km and investment up to 6.8 billion yuan, the pipeline will start from Shenmu county, Yulin city, and end at Weinan city, according to Weinan Development and Reform Commission.
The pipeline, to be constructed by Shaanxi Coal and Chemical Industry Group Co., Ltd., will have annual transmission capacity of 10 million tonnes coal slurry, said the commission.
Saturday, March 5, 2011
Shaanxi may ration power on short coal supply
Mar 5, 2011
Northwestern China's Shaanxi province would have to cut power supply again, as the province is facing a gap of 100 kWh electricity due to badly shortage of power coal, local paper Huashang Daily reported.
Since Feb, coal stocks in the province’s 14 main power plants have been falling by 23,000 tonnes per day on average.
Each day, an average of 83,000 tonnes coal was carried to these power plants, compared to some 106,000 tonnes being used, showed data from the dispatching center of Shaanxi Power Grid.
As of Mar 2, these 14 power plants had 659,000 tonnes coal in stock, enough for use of 3.8 days on average, nine plants only enough for less than 3 days.
Shaanxi Power Grid Corp is striving to increase coal supply to 150,000 tonnes each day.
Meanwhile, Shaanxi stopped supplying power out of the province starting from Mar 1, in a bid to secure local demand.|By en.sxcoal|
Northwestern China's Shaanxi province would have to cut power supply again, as the province is facing a gap of 100 kWh electricity due to badly shortage of power coal, local paper Huashang Daily reported.
Since Feb, coal stocks in the province’s 14 main power plants have been falling by 23,000 tonnes per day on average.
Each day, an average of 83,000 tonnes coal was carried to these power plants, compared to some 106,000 tonnes being used, showed data from the dispatching center of Shaanxi Power Grid.
As of Mar 2, these 14 power plants had 659,000 tonnes coal in stock, enough for use of 3.8 days on average, nine plants only enough for less than 3 days.
Shaanxi Power Grid Corp is striving to increase coal supply to 150,000 tonnes each day.
Meanwhile, Shaanxi stopped supplying power out of the province starting from Mar 1, in a bid to secure local demand.|By en.sxcoal|
Wednesday, January 12, 2011
Shaanxi coal sales first hit 300Mt last year 2010
Northwestern China’s Shaanxi province, the third largest coal producer in China, posted coal sales of over 300 million tonnes in 2010 for the first time, sources learnt from the provincial coal industry bureau, local paper reported.
Thanks to intensified efforts to adjust industrial structure, Shaanxi saw its coal sales surging for five straight years during the 11th Five-Year Plan (2006-2010), an average increase of 40 million tonnes per year, Sanqin Metropolis reported.
Shaanxi’s coal output amounted to 355 million tonnes in 2010, increasing 202 million tonnes from 153 million tonnes in 2005, growing 40.37 million tonnes each year on average, according to the report.
By 2015, the end of the 12th Five-Year Plan, the province’s coal production is expected to reach 600 million tonnes, averagely rising 50 million tonnes per year, according to the province’s coal industry development plan.
News via en.sxcoal.com, 11 Jan, 2011
Thanks to intensified efforts to adjust industrial structure, Shaanxi saw its coal sales surging for five straight years during the 11th Five-Year Plan (2006-2010), an average increase of 40 million tonnes per year, Sanqin Metropolis reported.
Shaanxi’s coal output amounted to 355 million tonnes in 2010, increasing 202 million tonnes from 153 million tonnes in 2005, growing 40.37 million tonnes each year on average, according to the report.
By 2015, the end of the 12th Five-Year Plan, the province’s coal production is expected to reach 600 million tonnes, averagely rising 50 million tonnes per year, according to the province’s coal industry development plan.
News via en.sxcoal.com, 11 Jan, 2011
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