HONG KONG (XFN-ASIA) - China Coal Energy Co Ltd, the mainland's second-largest coal producer, was sharply higher in early trade compared to its initial public offering (IPO) price on its trading debut here, dealers said.
At 10.05 am, the stock was at 4.51 hkd, up 11.4 pct from the IPO price of 4.05 hkd. It opened at 4.50 hkd and hit a high of 4.58 hkd.
The company said the retail tranche of its IPO has been 181 times oversubscribed, while the international tranche has been 'very significantly oversubscribed.'
(1 usd = 7.8 hkd)
roby.lau@xfn.com
© 2006 AFX News
