China Shenhua Energy to Acquire Major Coal and Energy Assets, Plans A-Share Fundraising

China Shenhua Energy Co. plans to acquire major coal and energy assets from China Energy and Western Energy, funded by issuing new A shares and cash. The company will raise funds through a private placement of A shares to up to 35 investors, expanding its asset base and capital structure. The transaction is subject to shareholder approval and Hong Kong Listing Rules. Analysts rate the stock as a Sell with a HK$29.60 price target.