Kinetic Mining starts pre-marketing for Hong Kong IPO

The Inner Mongolia-based start-up coal miner seeks to raise about $150 million via its offering.
<div style="text-align: left;">
Kinetic Mining aims to list on Hong Kong's stock exchange on March 23 (AFP)
</div>
<div style="text-align: left;"> Kinetic Mining aims to list on Hong Kong's stock exchange on March 23 (AFP) </div>

Bankers started investor education yesterday for a Hong Kong initial public offering for Kinetic Mines and Energy, which is seeking to raise about $150 million, according to sources.

The Chinese company, which has a thermal coal mine in Inner Mongolia, plans to sell 11% of its enlarged share capital in new shares, with 90% targeted at institutional investors. The remaining 10% will be offered to Hong Kong retail investors. The company has got a waiver from the Hong Kong stock exchange requirement of a 25% sale because it already has a substantial number of minority shareholders who will count towards the free-float, including some high-net-worth individuals.

The...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222