Couple of weeks ago 4 banks were selected by Selection committee for “Erdenes Tavan Tolgoi” IPO. Deutsche Bank (German) and Goldman Sachs (USA) are selected for IPO and BNP Paribas (France) and Macquarie Bank (Australia) will involve in the sales and brokerage activities.
However, lots of rumor was going around Deutsche Bank and Goldman Sachs. We interviewed Mr.Enebish, Executive Director of Erdenes MGL about current situation.
– What is the reaction of Working group about those rumor of Deutsche Bank and Goldman Sachs, as they were selected as a main advisor banks for “Erdenes Tavantolgoi” IPO?
– Officials announcement will soon be made from State Property Committee about this issue. We already signed our contract with those 4 banks. We can’t suspend our contract because of some rumor. That means 4 banks are already started working for “Erdenes Tavantolgoi” IPO.
– Does that mean Initial Public Offering of “Erdenes Tavantolgoi” process already started?
– That is correct.