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China Coal Energy shares soar in Shanghai debut

HONG KONG (MarketWatch) — Shares of China Coal Energy soared in Shanghai debut Friday on strong secondary market demand after its initial public offering was subscribed several times over last month. The company, China’s second largest coal producer, raised 25.67 billion yuan ($3.6 billion) last month via an IPO that attracted subscriptions worth $433 billion, according to report. The stock was recently quoted at 22.95 yuan in Shanghai, compared with an IPO price of 16.83 yuan. Nearly 166 million shares exchanged hands.
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Original post by Forextvblog

This entry was posted on Thursday, January 31st, 2008 at 8:50 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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