southgobi-starts-premarketing-for-400-million-hk-ipo

SouthGobi starts pre-marketing for $400 million HK IPO

Last November the Canadian-listed coal company with mines in Mongolia attracted CIC as an investor, now Hong Kong investors will get their chance to buy a share.

Bankers and market watchers are predicting that natural resources and commodities will be busy sectors in 2010 in terms of new listings and, deeming from the activity on the first trading day of the year, these predictions seem to bear out. Alongside Russian aluminium giant United Company Rusal, yesterday also saw the start of investor education for the Hong Kong listing of SouthGobi Energy Resources, which may raise about $400 million, according to sources.

Technically SouthGobi isn’t an initial public offering since the company is already listed in Toronto, but it is the first time the stock will be offered to Hong Kong retail investors and many institutional...

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