Wednesday, April 21, 2010

Mogi's April 20, 2010 Mid-Afternoon News (some overlooked events)

MICC acts as Joint Placement Agent for Hunnu Coal IPO

Ulaanbaatar, February 12, 2010 - Hunnu Coal Limited is an Australian listed company focused on exploration and development of its coking and thermal coal deposits in Mongolia to supply a wide range of coal products to steel markets in China.

On January 13, 2010, Hunnu issued a prospectus offering 100 million ordinary shares at an issue price of AUD$0.20 per share to raise AUD$20 million to provide funding for:

  • expansion of its exploration efforts at its coking and thermal coal projects through earning interests in various projects by expenditure and staged payments;
  • working capital; and
  • assessment and possible acquisition of new projects.
The company will immediately commence exploration programs and will continue these programs throughout 2010.

MICC acted as Joint Placement Agent for Mongolian investors to the IPO which listed on February 12, 2010.

The offer closed heavily oversubscribed with the share price closing at a 67.5% premium to the issue price, with 7.5% volume of free float traded on the first day.

Renaissance Capital & MICC take aim at Mongolian market

Ulaanbaatar, March 24, 2010 – Emerging markets investment bank Renaissance Capital announces today it is launching operations in Mongolia, the frontier market that is set to be the fastest-growing economy in the world over the next decade.

Renaissance Capital has signed strategic partnership agreements with Mongolia’s two leading investment firms, Mongolia International Capital Corporation (MICC) and Monet. These alliances, combined with Renaissance Capital’s unrivaled expertise in frontier markets, position the Firm to take advantage of investment banking opportunities as Mongolia increasingly integrates with global capital markets.

In Mongolia, Renaissance Capital will focus on equity and fixed income capital raisings, cross-border mergers and acquisitions, and privatization advisory.

MICC is Mongolia’s full-service investment bank, offering a full range of investment banking products including corporate advisory, securities underwriting, brokerage, and asset management services. MICC is licensed by the Financial Regulatory Commission (FRC) of Mongolia to act as a financial advisor and underwriter for the listing of securities on the Mongolian Stock Exchange and has acted on a number of sizeable public and private transactions.

“The scale of the opportunity in Mongolia is massive,” said Adel Kambar, Renaissance Capital CEO for Central Asia. “It is a singularly unique opportunity to work in a country at its point of inflection as it transforms into a vibrant emerging market economy and a commodity exporter on a global scale.”

Renaissance Capital initiated Research coverage of the country in December of last year with a major report authored by Head of Research Roland Nash titled, “Mongolia: Blue-sky opportunity.” The report said Mongolia is well positioned to be the fastest-growing economy in the world over the next decade.

“Mongolia’s transformation is now unstoppable,” said Roland Nash. “Over the next five years, production of coal will double, gold production will triple and copper output will quadruple. As these resources are brought to market, Mongolia will be transformed into a major economy and its financial markets will become increasingly sophisticated.”

The move into Mongolia follows Renaissance Capital’s expansion into South Africa last month and its build-out in Central and Eastern Europe. In December, Renaissance Capital announced a strategic alliance with India’s leading investment bank, Kotak, that focuses on cross-border merger and acquisition advisory.

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