Chinalco Mining’s Hong Kong IPO covered at launch

Chinalco’s Peru unit starts the roadshow for an offering of up to $435 million, making it one of only a handful of companies set to list in Hong Kong before Chinese New Year.
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Chinalco's only mining asset: the Toromocho copper-polymetallic deposit in Peru
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<div style="text-align: left;"> Chinalco's only mining asset: the Toromocho copper-polymetallic deposit in Peru </div>

Chinalco Mining Corporation International, a unit of state-owned Aluminum Corp of China and the owner of a greenfield copper deposit in Peru, kicked off the institutional roadshow yesterday for its Hong Kong initial public offering, which is targeting to raise between HK$2.68 billion and HK$3.37 billion $346 million to $435 million. The stock is expected to start trading on January 31.

The company has secured five cornerstone investors, which will buy $240 million worth of shares, or up to 69.4% of the deal depending on the final price. It has also enlisted enough demand from anchor investors for the deal to be fully covered at launch, a...

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