Yitai Coal takes last chance to mine for cash

29 Jun 2012

Inner Mongolia Yitai Coal has taken advantage of what bankers think is its last window of opportunity to launch an IPO before the summer, opening the books for an up to HK$8.62bn ($1.1bn) deal on Wednesday morning.

The deal is around $400m smaller than the company had initially planned, after it decided to cut the stake on offer, said a banker close to the deal. But Yitai Coal looks likely to pull off a successful deal as it has managed to secure cornerstone commitments and ...

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