Inner Mongolia Sanwei plans HK IPO

Could start share sale this year.

Inner Mongolia Sanwei Resources Group Company plans to raise some US$200 million in an initial public offering in Hong Kong, according to media reports. The company is a Chinese producer of coal, silicon and magnesium based in the city of Ordos near China’s border with Mongolia.

Sources said the company has submitted an application to the Hong Kong stock exchange and might start the share sale this year.

BOC International Holdings Ltd., BNP Paribas SA, Credit Suisse Group AG and Morgan Stanley are managing the offering.

Inner Mongolia Yitai Coal Co. raised US$903 million from a Hong Kong share sale in July 2012.

Companies have raised US$5.9 billion in Hong Kong IPOs this year, more than double the proceeds for the same period of 2012, said Bloomberg.