Deals
Mongolia Delays $3 Billion Coal IPO to Retain Hong Kong Plan
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Erdenes Tavan Tolgoi, the Mongolian coal miner planning a $3 billion initial public offering, said it delayed the foreign part of the deal by at least two months to September to help win listings in London and Hong Kong.
The state-run miner may list locally first as part of the government program to give citizens stock in the company and then pursue a sale overseas, Chief Executive Officer Baasangombo Enebish said today in an interview in the nation’s capital, Ulan Bator. Prime Minister Sukhbataar Batbold’s government had aimed to complete the IPO before June elections.