BEIJING, June 9 -- Datong Coal Industry Co. and Shenzhen Coship Electronics Co. have set indicative price ranges for their initial public offerings (IPOs).

    Datong Coal set a price range of 6 yuan (0.75 U.S. cents) to 6.76 yuan a share, which translates to a price/earnings ratio of 11.19 times to 12.61 times based on its share capital after the offering, the company said in a statement Wednesday.

    The price range means Datong Coal will raise between 1.68 billion yuan and 1.89 billion yuan from its offering of 280 million yuan-denominated A shares.

    Subscription to the institutional tranche of 56 million shares, or 20 percent of the offering, will be June 7, and the retail subscription for the remaining shares will be June 13, it said.

    The company plans to make its trading debut on the Shanghai Stock Exchange before June 28, it said earlier.

    Capital Securities Co. is the lead underwriter of the deal.

    Datong Coal Industry said earlier it will invest the proceeds of its offering in five projects, including a coal exploration project and a technology innovation project. It said the projects have a combined cost of 1.82 billion yuan.

    Datong Coal is the first firm to launch an IPO on the Shanghai Stock Exchange since China lifted its yearlong moratorium on share offerings in May.

    Regulators suspended IPO approvals in May last year as they began a program that allowed listed companies to float their nontradable stock, which then accounted for about two-thirds of the stock market's capitalization.

    Three companies, China CAMC Engineering Co., Shenzhen Coship Electronics Co. and China Yunnan Salt & Chemical Industry Co., disclosed share offering plans since the suspension was lifted, but all of them will be listed on the Shenzhen Stock Exchange.

    Shenzhen Coship said in a statement it has set an indicative price range of 14 to 16 yuan for its IPO, representing a price/earnings ratio of 21.28 times to 24.32 times.

    Given the price range, Shenzhen Coship will raise between 308 and 352 million yuan from its offering of 22 million yuan-denominated A shares.

    Subscription to the institutional tranche of 4.4 million shares, or 20 percent of the offering, will be June 7, and the retail subscription for the remaining shares will be June 12, it said.

    The company plans to make its trading debut June 27, it said earlier. GF Securities Co. is the lead underwriter.

    Shenzhen Coship said earlier the proceeds from the offering will be used to fund five projects, including a research and development center. It priced the projects at 209 million yuan.

    (Source: Shenzhen Daily/Agencies)