Mongolia Eyes $3B Tavan Tolgoi IPO

Mongolia is seeking to launch an initial public offering (IPO) of Erdenes Tavan Tolgoi in three cities, TheWall Street Journal reports. The government plans to sell shares worth between $2 billion and $3 billion.

The shares will be simultaneously listed in London, Hong Kong and Ulaanbaatar, adds Bloomberg. The company appointed BNP Paribas, Deutsche Bank, Goldman Sachs and Macquarie Group to manage the transaction.

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