Hunnu Coal studying HK listing next year

Hunnu Coal Ltd, an Australian company developing coal mines in Mongolia, is studying the sale of shares in Hong Kong next year to fund new operations.

"The plan is to dual-list it on the Hong Kong stock exchange, middle- to late-next year," Chairman Matthew Wood said Thursday in an interview in Melbourne. Hunnu may join other Mongolia-focused mining companies including SouthGobi Energy Resources Ltd, the Canada-listed mining company backed by China's sovereign wealth fund, and Energy Resources LLC in seeking capital by listing in Hong Kong.

HKEx sees 'good' IPO pipeline

Hong Kong Exchanges & Clearing Ltd, operator of Asia's third-biggest bourse, says Agricultural Bank of China Ltd is one of many companies in a "good" pipeline for listings in the city even as Europe's debt crisis spreads.

The bourse approved 67 applications for initial public offerings in Hong Kong in the three months to the end of March, said Ronald Arculli, chairman of Hong Kong Exchanges, in a television interview Thursday. Agricultural Bank, the nation's third-largest lender by assets, plans to attempt what could be the biggest IPO in world history by July, people with knowledge of the matter said this month.

Hong Kong's IPO pipeline "looks good for the rest of the year, but Europe is a bit of a worry," Arculli said. Brazilian companies, including one that's engaged in the natural resources business, may seek listings in Hong Kong, he said. But he declined to be more specific.

Agencies - China Daily

(HK Edition 04/30/2010 page2)