Bloomberg: Mongolia Starts Share Sale Process for State-Owned Coal Company

Mongolia, whose economy grew the fastest last year, will sell new shares in Baganuur JSC coal mining company to raise at least 60 billion tugrik ($46 million) to help fund infrastructure projects. The government wants to cut its holding to 51 percent from 75 percent by selling new shares, Gunsmaa Namgilsuren, a senior specialist at the privatization department of the State Property Committee, said today by phone from Ulan Bator. It’s now seeking banks to manage the sale, she said. Mongolia, which became China’s biggest supplier of coking coal in July, is seeking to offer minority stakes in its coal miners to foreign investors to fund roads and power plants that could boost production. Mining companies from Mongolia have raised more than $750 million in share sales abroad in the last two years. To read the full article, click hereMongolia Starts Share Sale Process for State-Owned Coal Company

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