Mongolia Seeks Coking-Coal IPO in Three Cities

Aug 31 • Finance, Mining, News • 448 Views • No Comments on Mongolia Seeks Coking-Coal IPO in Three Cities

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Mongolia aims to list simultaneously in three cities the company that controls one of the world’s largest coking-coal deposits, people familiar with the matter said Wednesday.

The multibillion-dollar initial public offering of a government-owned stake in Erdenes-Tavan Tolgoi Co. may take place in Ulan Bator, Hong Kong and London if Mongolia can overcome technical and logistical hurdles remaining, the people said.

Goldman Sachs Group Inc., Deutsche Bank AG, BNP Paribas SA and Macquarie Group Ltd. are handling the sale of a stake in state-owned Erdenes-TT, as it is known. The company controls the coal deposit in the South Gobi desert near China’s northern border.

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