Энэ 7 хоногт
Mongolian Mining Plans $700M IPO, Term Sheet Says
Sept. 1 (Bloomberg) -- Mongolian Mining Corp. is selling about $700 million of stock in an initial public offering, the first by a Mongolian company in Hong Kong, according to a term sheet sent to investors by the sale’s arrangers.
Sept. 1 (Bloomberg) -- Mongolian Mining Corp. is selling about $700 million of stock in an initial public offering, the first by a Mongolian company in Hong Kong, according to a term sheet sent to investors by the sale’s arrangers.
Mongolian Mining, formerly known as Energy Resources, plans to price its shares on Sept. 24 and start trading on Oct. 5, the term sheet said. Citigroup Inc. and JPMorgan Chase & Co. are managing the IPO.
New shares account for 75 percent of the initial sale, which represents 20 percent of the company’s enlarged share capital, according to the term sheet. After the listing, the company may exercise an option to sell additional shares equal to 15 percent of the offering.
Proceeds of the sale will be used to develop mines, fund transport infrastructure projects and acquire companies with mining rights, according to the term sheet. The underwriters will receive investors’ orders from Sept. 20 to Sept. 24.
Controlling shareholders will be prohibited from selling stock in the 12 months following the IPO, while other major shareholders are subject to a lockup period of six months, the term sheet said.
No companies based in Mongolia are currently listed in Hong Kong, according to data compiled by Bloomberg. The IPO would come after Moscow-based United Co. Rusal in January became the first Russian company to go public in the territory.
Mongolia plans to privatize state-owned assets in initial share sales in local and international stock markets such as Hong Kong, Dulam Sugar, chairman of the Government of Mongolia’s State Property Committee, said on June 15.
Mongolian Mining, formerly known as Energy Resources, plans to price its shares on Sept. 24 and start trading on Oct. 5, the term sheet said. Citigroup Inc. and JPMorgan Chase & Co. are managing the IPO.
New shares account for 75 percent of the initial sale, which represents 20 percent of the company’s enlarged share capital, according to the term sheet. After the listing, the company may exercise an option to sell additional shares equal to 15 percent of the offering.
Proceeds of the sale will be used to develop mines, fund transport infrastructure projects and acquire companies with mining rights, according to the term sheet. The underwriters will receive investors’ orders from Sept. 20 to Sept. 24.
Controlling shareholders will be prohibited from selling stock in the 12 months following the IPO, while other major shareholders are subject to a lockup period of six months, the term sheet said.
No companies based in Mongolia are currently listed in Hong Kong, according to data compiled by Bloomberg. The IPO would come after Moscow-based United Co. Rusal in January became the first Russian company to go public in the territory.
Mongolia plans to privatize state-owned assets in initial share sales in local and international stock markets such as Hong Kong, Dulam Sugar, chairman of the Government of Mongolia’s State Property Committee, said on June 15.
ok
Зочин