Coal and iron-ore company, Resourcehouse, is seeking to raise nearly $3.6 billion in an IPO, Bloomberg reports. The company plans to sell a minimum of 5.7 billion shares at $0.57-0.63 per unit.
China Railway Group and Metallurgical Corp. of China will invest around $200 million in stock. Resourcehouse intends to use the proceeds to develop its coal and iron-ore ventures in China. BOC International Holdings, HSBC Holdings, Royal Bank of Scotland and UBS are the managers for the sale.
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