Commodity Online reported that the Shaanxi Coal Industry could be the biggest Initial Public Offering in the main land china in 2011 and if it successfully raises as much as CNY 17.3 billion.

If the company succeeds then it would be the third largest in the country in publicly traded coal miner by output after China Shenhua Energy Co Ltd and China Coal Energy Co Ltd.

According to an analyst Lin Yuanrui, Investors will be excited about the Shaanxi Coal IPO since coal prices are expected to stay firm in the next two years.

The debt crisis in US and Europe weaken the stock market and has tone down pricing expectations for their IPOs.

According to the company, they will issue up to 2 billion shares in the offering. The strong demand for Coal in China as well as in India has made the international coal price to race up.

China is the largest producer of Coal accounting for 46% of the global production.