Kinetic Mines launches IPO of up to $180 million

The Inner Mongolia-based coal miner has attracted one cornerstone investor that will buy $30 million worth of shares ahead of the Hong Kong listing.

Kinetic Mines launches IPO of up to $180 million

Kinetic Mines and Energy yesterday kicked off both the institutional bookbuilding and the retail portion of its Hong Kong initial public offering that aims to raise between HK$1.17 billion and HK$1.40 billion $151 million to $180 million.

Sany Heavy Equipment International has committed to support the deal as a cornerstone investor and will invest $30 million. This will account for about 17% to 20% of the base deal, depending on the final...

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