Mongolia iron ore miner in $300mln Hong Kong IPO-source
May 23 (Reuters) - Mongolian iron ore miner Altain Khuder is planning to raise about $300 million through a Hong Kong initial public offering (IPO), a source with knowledge of the matter told Reuters.
Altain Khuder, which owns the Tayan Nuur iron ore mine in the southwest of resource-rich Mongolia, has hired Bank of America and Macquarie Group to manage the offer, two sources said.
Macquarie has been named as joint global coordinator for the offer, one of the sources said, adding that the IPO would value Altain Khuder at about $1 billion.
Altain Khuder officials were not available for an immediate comment. Bank of America and Macquarie declined to comment.
The sources were not authorised to speak about the matter publicly as the information is confidential.
Altain Khuder, which owns the Tayan Nuur iron ore mine in the southwest of resource-rich Mongolia, has hired Bank of America and Macquarie Group to manage the offer, two sources said.
Macquarie has been named as joint global coordinator for the offer, one of the sources said, adding that the IPO would value Altain Khuder at about $1 billion.
Altain Khuder officials were not available for an immediate comment. Bank of America and Macquarie declined to comment.
The sources were not authorised to speak about the matter publicly as the information is confidential.
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