Mongolian Mining plans raising HK$5.44bln via SEHK listing

Goes for global offering of 719,424,500 shares at HK$6.48-HK$7.56 per share starting on September 28.

Mongolian Mining Corporation (“MMC” or the “Company”), the largest privately held high-quality coking coal producer and exporter in Mongolia in the first half of 2010, on Monday announced its plan to raise up to approximately HK$5.44 billion, including approximately HK$4.51 billion from the issue of its new ordinary shares (“Shares”) and approximately HK$0.92 billion from the sale of existing Shares by the Selling Shareholders (“Sale Shares”), through a listing on the Main Board of the Stock Exchange of Hong Kong (“SEHK”), according to a Mongolian Mining report.

Offering details
The global offering (the “Global Offering”) initially comprises 719,424,500 Shares to be sold at an offer price (the “Offer Price”) between HK$6.48 and HK$7.56 per Share. The Global Offering consists of a public offering in Hong Kong (the “Hong Kong Public Offering”) of 71,942,000 new Shares (the “Hong Kong Offer Shares”) and an international placing (the “International Placing”) of 647,482,500 Shares (the “International Placing Shares”), including 525,180,500 new Shares and 122,302,000 Sale Shares (subject to the Over-allotment Option). Allocations of Shares between the Hong Kong Public Offering and the International Placing will be subject to adjustment.

The Joint Global Coordinators will have the right to require the Company to sell up to an aggregate of 107,914,000 additional Shares, representing approximately 15% of the initial number of Offer Shares to cover over-allocation in the International Placing, if any (the “Over-allotment Option”).

Assuming that the Over-allotment Option is not exercised, the Global Offering will raise up to approximately HK$5.44 billion (including approximately HK$4.51 billion from the issue of new Shares and approximately HK$0.92 billion from the sale of Sale Shares) assuming an Offer Price at HK$7.56, the top end of the Offer Price range.

The Hong Kong Public Offering will begin at 9 a.m. on September 28, 2010 (Tuesday) and close at noon on October 4, 2010 (Monday). The final Offer Price and allocation results will be announced on October 12, 2010 (Tuesday). Trading in the Company’s Shares is expected to begin at 9:30 am on October 13, 2010 (Wednesday). The Shares will be traded in board lots of 500 Shares under the stock code 975.

Citigroup Global Markets Asia Limited and J.P. Morgan Securities (Asia Pacific) Limited are the Joint Global Coordinators, Joint Bookrunners, Joint Sponsors and Joint Lead Managers.