Mongolia pulls plan again to triple list coal mine: "Mr Graeme Hancock COO of Erdenes at the sidelines of the Mongolia Investment Summit said that the global shares offering and planned Mongolia Hong Kong London listing of the developer of a mine that aims to supply a quarter of Asia's coking coal is unlikely to happen before September next year.
Mr Hancock said that "The feedback from the government is that the IPO timetable is now driven by commercial rather than political. But this will depend on the market and it will unlikely go ahead until we see a strengthening of coal demand in China, which is unlikely until next September."
Mr Hancock said that the IPO was originally slated for June this year. With its repeated delays, Erdenes will seek to raise at least USD 600 million potentially via loans and bonds to fund mining infrastructure construction. Other issues that will affect attractiveness of Erdenes' shares offer include how soon the Mongolian parliament will pass a new securities law to replace an outdated one."
'via Blog this'
