Zhengzhou Coal Mining Machinery Group Co. said Friday it plans to issue 140 million shares, or 20% of its enlarged capital, in an initial public offering in Shanghai, reported Dow Jones.

The company didn’t say how much it plans to raise from the offering, but said in a statement it will invest part of the proceeds in some high-end manufacturing projects valued at CNY1.5 billion. China’s securities regulator has approved the IPO application, it said.

The company said it will disclose the pricing of the IPO July 22 and list shares on the Shanghai bourse « as soon as possible » after the announcement.

Citic Securities Co. is the underwriter of the IPO, Zhengzhou Coal said.