Erdenes Tavan Tolgoi, the Mongolian state-owned and the largest coal miner planned to launch an initial public offering (IPO) in Hong Kong, London and Ulaanbaatar in next second quarter.
In fact, Erdenes Tavan Tolgoi has deferred the IPO plan for several times due to sluggish market condition and the deficient information of stocks and bonds rules in Mongolia.
Graeme Hancock, the CEO of Erdenes Tavan Tolgoi said that the firm planned to launch IPO in the next second quarter in Hong Kong, London and Ulaanbaatar in next second quarter and to raise the funds of US$ 3 billion.