BEIJING, Oct. 9 -- China coal miner Shenhua Energy nearly doubled on its trading debut in Shanghai Tuesday.

The country's biggest coal miner opened at 68 yuan (9.05 U.S. dollars) per share, jumping 83.83 percent from its initial price of 36.99 yuan.

The miner raised a record 66.6 billion yuan in the country's largest domestic initial public offering.

Shenhua's 1.8 billion yuan-denominated shares attracted a record number of IPO subscriptions and were priced at 36.99 yuan each, the top of their indicative range.

Shenhua Energy's Hong Kong traded shares gained 1.8 percent to 45.80 Hong Kong dollars (5.87 dollars) yesterday. (Source: Shanghai Daily)

Shenhua Energy says to expand through M&A

China Shenhua Energy Corp, which will list its shares in Shanghai on Tuesday, said it aimed to expand through mergers and acquisitions as well as organic growth.

The firm, China's largest coal producer, will obtain assets from its parent group and also wants to buy more high-quality coal operations in China by taking part in the consolidation of the domestic industry, chairman Chen Biting said in a statement.

In addition, "we want to carefully and selectively buy foreign assets, focusing on assets that have potential and fit with the company," Chen said.

Shenhua raised 66.58 billion yuan in China's largest domestic initial public offer last month, attracting 2.7 trillion yuan of subscriptions, which was another record.

(Source: China Daily/Agencies)