Erdenes Tavan Tolgoi mulls dropping Hong Kong portion of USD 3bn IPO - FT.com: "Erdenes Tavan Tolgoi, the Mongolian company developing the world’s largest untapped coking coal deposit, is considering dropping the Hong Kong portion of its USD 3bn initial public offering, two sources familiar with the situation told dealReporter.
“In the last several rounds of regular meetings with Tavan Tolgoi’s executives, they have shown less interest in a Hong Kong IPO and seem likely to drop the Hong Kong listing proposal,” one source close to the deal said. The company was planning to simultaneously float in London, Hong Kong and Mongolia as soon as late March.
Even the Hong Kong stock exchange is “not very keen” on the offering, as they think it will be a tough sell to investors skeptical of foreign mining stocks, the source added."
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