Gobi Coal Said to Seek Buyers as Stock Rout Hurts IPO Plan

Gobi Coal and Energy Ltd.’s owners are seeking to sell the Mongolian mining company for as much as $750 million, said two people with knowledge of the matter.

Gobi Coal, whose owners include Beijing-based private-equity firm Origo Partners Plc, has requested potential buyers submit initial bids by mid-October, said one of the people, who asked not to be identified because the sale process is private. The company is also pursuing the option of an initial public offering in Toronto, the people said.