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
A coal mine in Inner Mongolia (AFP)

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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