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SHANGHAI, China (AP) -- China's securities regulator has approved a plan by China Shenhua Energy Co., the country's biggest coal producer by output, to list shares on the Shanghai Stock Exchange. The China Securities Regulatory Commission approved the proposed share listing in a meeting Monday, according to a notice seen Tuesday on its Web site. Shenhua owns coal mines, railways, ports and power plants. It already has shares traded on the Hong Kong Stock Exchange. It is among many large state-owned companies seeking listings on domestic bourses amid a rally that has doubled the value of the benchmark Shanghai Composite Index since the beginning of the year. The stock will be yuan-denominated "A shares," which are off-limits to most foreign investors. Shenhua has not said how much it expects to raise in the share offering. Shenhua Group, the mainland-based parent company of Shenhua Energy, sold 240 million tons of coal in 2006 and projects sales for 2007 at 260-270 million tons.
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