Yitai Coal targets $900 million from Hong Kong IPO

The Inner Mongolia-based coal producer, which is already listed in Shanghai, has signed up seven cornerstones that will buy up to 43% of the deal.

Yitai Coal targets $900 million from Hong Kong IPO
Yitai Coal produces primarily thermal coal for use in power plants

Inner Mongolia Yitai Coal will kick off the bookbuilding for its Hong Kong initial public offering, which will likely be the last IPO to launch in the first half. Syndicate bankers have been doing investor education since May 28 and sources say the structure of the deal will be similar to several other recent offerings in that it will rely heavily on cornerstones and anchor investors

However, the key reason why the Chinese coal producer...

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