anghai on Oct. 9, following the largest share sale worldwide this year. The Shanghai shares will have the ticker 601088. The miner raised 66.6 billion yuan (US$8.9 billion) in the sale, it said in a Hong Kong stock exchange statement Sunday. The Beijing-based company sold 1.8 billion shares at 36.99 yuan each.
Shenhua's sale surpassed the US$8 billion raised by Russia's VTB Group in May, providing funds to make acquisitions and increase output as China's coal supply fails to keep pace with demand.
The company's Hong Kong-listed shares have soared sixfold from their June 2005 sale price. They have surged 140 percent this year, outperforming the 39 percent gain in the benchmark Hang Seng index.
