China Shenhua Energy Company, the country's largest coal miner, announced Sunday that its stocks will suspend trading as its parent company is planning for an "important issue."
On Friday, the company received a notice from its parent company, Shenhua Group, about the "important issue" involving its listed arm, which involves major uncertainties and needs approval from related regulators, it said in a short statement.
The Beijing-based company did not unveil details of the issue under consideration.
To protect the interests of investors and avoid stock price fluctuations, the company has applied to the Shanghai Stock Exchange for its shares to suspend trading starting Monday, it said.
The company will disclose information according to the progress of the issue under consideration, it added.
The company's share price rose 2.62 percent to 22.29 yuan (3.3 U.S. dollars) on Friday.
