The upcoming IPO will take place either in late 2011, or in 1Q2012, Baasangombo Enebish (Erdenes MGL, CEO) says as quoted by Reuters.
The government may announce IPO by July 2011. Erdenes, a state company owning permits for the Eastern part of the deposit, plans to IPO 30 per cent of the project stock, while offering 10 per cent to Mongolian businesses and private investors. The IPO is expected to raise $1 to 1.5 bn.