Mongolia’s Erdenes May Be Valued at $10.6 Billion, Frontier Says - Bloomberg: "Erdenes Tavan Tolgoi, the Mongolian state-owned coal miner proposing an initial public offering, may be worth as much as $10.6 billion, according to Frontier Securities.
The value of the each Erdenes share is 933 tugrik (70.8 cents), Frontier said in a e-mailed report, citing a May 30 statement on the government’s website. Frontier calculated the value of the company based on Erdenes having 15 billion shares.
Erdenes Chief Operating Officer Graeme Hancock confirmed a value had been set without giving further details.
The company last month delayed its planned IPO until February or March, citing a decline in global market conditions. It had planned to raise $3 billion from the share sale in Hong Kong, London and Mongolia’s capital, Ulan Bator before the delay."
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The value of the each Erdenes share is 933 tugrik (70.8 cents), Frontier said in a e-mailed report, citing a May 30 statement on the government’s website. Frontier calculated the value of the company based on Erdenes having 15 billion shares.
Erdenes Chief Operating Officer Graeme Hancock confirmed a value had been set without giving further details.
The company last month delayed its planned IPO until February or March, citing a decline in global market conditions. It had planned to raise $3 billion from the share sale in Hong Kong, London and Mongolia’s capital, Ulan Bator before the delay."
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