South African coal miner Lontoh Coal will mandate banks to lead its initial public offering in two weeks. The company has already decided on a shortlist of possible banks, and wants to have at least one Chinese bank on the deal to help attract mainland investors, president and chief executive Tshepo Kgadima told EuroWeek Asia.

Lontoh will pick at least three banks to join Samsung Securities (Asia), which has already been appointed as an adviser on the IPO. Barclays Capital, Macquarie and Renaissance Capital are all in the running for the mandate, said Kgadima, but...

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