Mongolia Starts Share Sale Process for State-Owned Coal Company
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Mongolia, whose economy grew the fastest last year, will sell new shares in Baganuur JSC coal mining company to raise at least 60 billion tugrik ($46 million) to help fund infrastructure projects.
The government wants to cut its holding to 51 percent from 75 percent by selling new shares, Gunsmaa Namgilsuren, a senior specialist at the privatization department of the State Property Committee, said today by phone from Ulan Bator. It’s now seeking banks to manage the sale, she said.