International law firm Milbank, Tweed, Hadley & McCloy LLP advised Mongolian Mining Corp., the country’s biggest coking coal producer, on its approximately US$650 million initial public offering in Hong Kong. The IPO is the first listing by a Mongolian owned company in Hong Kong and one of the biggest IPOs in Hong Kong this year. Citigroup and JP Morgan Chase were the underwriters.
“Mongolia has made tremendous progress in improving its infrastructure to effectively exploit its enormous natural resources in coal, copper, iron and other natural resources,” said Anthony Root, head of Milbank’s Asia corporate practice, who led the Milbank team. Mr. Root added: “The recent spate of IPOs reflects the fact that Hong Kong is becoming an increasingly global public listing venue as the world’s wealth shifts from West to East.”
The Milbank team included Beijing-based partner Ed Sun, senior associate Andrew M. Yang and associate Benjamin Wang in Hong Kong.
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