CDS comdek limited.

coal is hot

  1. 9,382 Posts.
    lets hope some of these deep pockets get in line when cds release their announcements


    IPO... The excitement continues ... China Shenhua Energy Co., the nation's biggest coal producer, almost doubled on its first day of trading in Shanghai after investors applied for a record 2.66 trillion yuan (Us$354 billion) of stock. Shenhua rose as much as 91% after the Beijing-based company raised 66.6 billion yuan in the world's biggest share sale this year.
    Investors ordered 40 times the stock on offer, drawn by first-day trading gains for Chinese companies that averaged 269% in the past three months. The surge gives the coal producer a market capitalization of Us$173 billion, surpassing Cia. Vale do Rio Doce as the world's second-biggest mining company.
    Shenhua will use the proceeds to buy mines and expand output to meet demand in the world's fastest-growing major economy, where coal prices have jumped to a record.
    Shenhua's Shanghai shares are trading at 65 times estimated earnings. China Coal Energy Co., the nation's second-biggest coal producer, is trading in Hong Kong at 52 times last year earnings.
    Shenhua's Hong Kong shares are trading at a ratio of 42, less than the
    54 times average for China's CSI 300 Index, the world's best-performing this year.
 
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