Erdenes-Tavan Tolgoi Says IPO Unlikely Before 3Q | Fox Business: "Mongolia-based Erdenes-Tavan Tolgoi Co. said Tuesday the company's planned $3 billion Hong Kong, London and Ulan Bator initial public offering is unlikely to be held before the end of the third quarter because of poor market conditions and weak coal prices.
Another reason for the delay in listing the company's shares is that a new Mongolian securities law needed to establish the necessary legal framework for the company to list in the three cities still hadn't been approved, said Graeme Hancock, chief operating officer of the state-owned company that controls what may be the world's largest undeveloped coking-coal reserves."
'via Blog this'
