Central Asia

Mongolia cancels $3 billion coal IPO

The cancellation of a stake sale in the country’s flagship coal mining company comes as economic growth and ratings agencies cast a shadow on the economy.

In a blow both to the country and its capital markets, the Mongolian government has once again scrapped its up to $3 billion initial public offering plans in Hong Kong for the central Asian republic's flagship coal mining company Erdenes Tavan Tolgoi.

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