The HKSE's listing committee gave its formal approval for the IPO of China Shenhua Energy Company Ltd late yesterday May 12 paving the way for the official beginning of pre-marketing. Under the lead of CICC, Deutsche Bank and Merrill Lynch, formal roadshows will begin around May 26, with pricing scheduled for the week beginning June 6.
The $2.5 billion to $3 billion deal will have four tranches including a Japanese POWL Public Offering Without Listing run by Nomura. The Japanese house will also act as a co-lead in the international tranche alongside ABN AMRO, JPMorgan, Lehman and Morgan Stanley.
Because of the large...
