Mongolia Says $3 Billion Tavan Tolgoi IPO Likely Next Year
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Mongolia is likely to sell a stake in its Erdenes Tavan Tolgoi coal-mining company to the public next year, raising more than $3 billion, the nation’s third-ranking government official said.
“Most likely, it’s going to happen next year,” Khurelbaatar Chimed, Minister of Mongolia and Chief of the Cabinet Office, said today in an interview with Bloomberg TV in Hong Kong. Plans haven’t been completed for the initial public offering, which could be worth more than $3 billion, he said.