Hong Kong $1bn IPO for Mongolian Mining Corp

IRJ Aug 27 - Mongolian Mining Corporation has announced new plans for an IPO of up to $1 billion on the Hong Kong stock exchange. The coking coal producer will list up to 25 per cent enlarged capital, with pre-marketing commencing from next week.

This is a landmark IPO for Mongolia—the first in Hong Kong for the nation. This raising aims to bolster plans for a $700 million rail link from its minesite to directly China—around 245 kilometres.