UPDATE 1-SouthGobi raises $439 mln in HK IPO
(Adds further details, conversion to HK dollars)
HONG KONG Jan 21 (Reuters) - Canada-listed coal miner SouthGobi Energy Resources Ltd (SGQ.TO) said on Thursday it priced its Hong Kong initial public offering at C$17.00 each, to raise about US$439 million.
The company sold 27 million new shares, or about 16.8 percent of its enlarged share capital, at C$17.00 or HK$126 each.
SouthGobi, which secured Asia's top sovereign wealth funds, China Investment Corp (CIC) [CIC.UL] and Temasek [TEM.UL] as cornerstone investors, will start trading on Jan 29.
SouthGobi's IPO follows a $500 million investment from CIC announced in October.
The company is focused on expanding its coal production capacity in Mongolia, centred around its Ovoot Tolgoi mine 40 kilometres from the border with China.
Citigroup (C.N) and Macquarie (MQG.AX) are handling the deal. (C$1=HK$7.414) (US$1=HK$7.75)
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