Mongolia Consider Pre-IPO Convertible Bond Sale for Erdenes
This article is for subscribers only.
Erdenes Tavan Tolgoi, the Mongolian coal miner planning an initial public offering this year, may sell convertible bonds before listing, Minerals and Energy Minister Dashdorj Zorigt said.
The bonds may be sold to a “long-term, strategic investor,” Zorigt said today in an interview while attending the Mongolia Economic Forum in Ulan Bator, the capital. The government won’t press Erdenes TT, as the company is known, to complete the IPO before a parliamentary election in June, allowing the timing and place of sale to be decided on a “commercial” basis, he said.