Mongolia approves Tavan Tolgoi coking mine IPO

摘要

The huge Tavan Tolgoi coking coal deposit in Mongolia will see a 30% stake offered to overseas investors in an initial public offering expected to raise $1.5 billion after lawmakers approved plans for the capital raising. Erdenes-Tavantolgoi, the state-owned mine developer, will give out a 10% stake in the company to the public for free and another 10% will be sold to Mongolian businesses while the government will retain the remaining 50%, said a local report of the parliament’s plans approved July 7.