Another In The Queue
SHANGHAI, Jan 7 (Reuters) - The China Securities Regulatory Commission said on Monday it would consider on Friday a plan for a Shanghai initial public offer of shares by China Coal Energy Co (1898.HK), the country's No. 2 coal producer.The regulator made a brief statement on its Web site (www.csrc.gov.cn). No other details were immediately available.
Following up on the news, the queue should be as follow:
1) China Mobile
4) China Coal
China Coal may leapfrog Zijin and even CNOOC as it is state-controlled, while Zijin is not. The authorities may also deem CNOOc as too big a listing to attempt so soon after Petrochina. China Mobile should take the lead as it will surely be highly successful and could even be the impetus needed to rally the China share markets. A quick trade on China Coal-C1 is worthwhile if you can get in at 10 sen or even 11 sen.
p/s the photo is a famous statue in China suffering from the pollution from a nearby coal plant