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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

SouthGobi Energy raising $400 mln in Hong Kong IPO

Posted on 05 January 2010

From Reuters: Canada-listed coal miner SouthGobi plans to raise close to $400 million from a Hong Kong IPO this month. The expected cash infusion follows a $500 million investment from China sovereign fund China Investment Corp announced in October, which SouthGobi also plans to use to expand its Mongolia development.
SouthGobi, which started IPO premarketing on Monday, is focused on expanding its coal production capacity in Mongolia, centered around its Ovoot Tolgoi mine. It said it would use the proceeds of the share sale to expand production capacity and access regional infrastructure…………………………………..Full Article: Source

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