A published report says Mongolia plans to raise as much as USD 3 billion by selling a stake in its Erdenes Tavantolgoi coal-mining operation next year. The report by Bloomberg News quotes “two people with knowledge of the matter.”

According to the report, Mongolia will sell the shares simultaneously on stock markets in London, Hong Kong, and Ulaanbaatar in the first half of next year. The sources said the IPO may raise between USD 2 billion and USD 3 billion.