SouthGobi Energy Resources has secured Asia“s top sovereign wealth funds, China Investment Corp (CIC) and Temasek, as cornerstone investors in its planned USD400 million Hong Kong IPO this month. China“s CIC and Singapore“s Temasek will each buy USD50 million worth of shares, said a source with direct knowledge of the deal. The presence of the cornerstone investors, who buy shares before a public listing and promise to hold them until a later date, gives a high profile boost to the Mongolia-focused miner.

SouthGobi launched a marketing ‘road show’ on January 11, aiming to list on January 29.