Shaanxi Coal $1.6 Billion China IPO to Be Biggest in 2 Years

Shaanxi Coal Industry Co., China’s third-largest producer, plans to raise 9.83 billion yuan ($1.6 billion) in an initial public offering that’s set to be China’s biggest in more than two years.

China, the world’s largest IPO market in 2010 with a record $71 billion raised, hasn’t had an IPO since October 2012 as the securities regulator cracked down on fraud and misconduct among advisers and issuers. Regulators announced the plan to end the freeze on Nov. 30. More than 700 companies have applied to sell shares and are waiting for approval from the China Securities Regulatory Commission.