Corporate shareholder trims stake in Mongolian Mining

Petrovis raises about $82 million from the sale of a 2.3% stake after the Mongolian coal miner reports strong earnings.

Corporate shareholder trims stake in Mongolian Mining
MMC plans to ramp up production capacity of raw coal to 15 million tonnes by 2015

One of Mongolian Mining Corp’s MMC biggest shareholders last night raised HK$633.8 million $82 million from the sale of a 2.3% stake in the company. The sale, which was arranged by Macquarie, comes a couple of weeks after the Hong Kong-listed Mongolian coking coal company said that its net profit almost doubled last year as it ramped up production. It also follows a gain of about 37% in the share price so far this year.

...

To continue reading, please login or register for free

Click for more on: placement | block trade | mining | coal | coking coal | macquarie

Print Edition

FinanceAsia Print Edition

CONFERENCES