Coal in focus as more IPOs hit the Hong Kong market

Coal producer Mongolian Mining seeks to raise up to $680 million, while logistics provider Winsway Coking Coal aims for $574 million.

Investors interested in coal could take their pick yesterday when two companies focusing on coal mining in Mongolia kicked off their marketing to institutional investors. Both companies are looking to list in Hong Kong in the second week of October.

The largest of the two is Mongolian Mining Corp MMC, a coking coal producer with a large open-pit mine in the Tavan Tolgoi region, which ranks as the world’s largest coking coal deposit. The company is aiming to raise between HK$4.53 billion and HK$5.28 billion $583 million to $680 million, or as much as $780 million if a 15% greenshoe is also allocated in full....

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