Source: Reuters

Mongolia is considering adding banks to its list of advisors to Erdenes Tavan Tolgoi. The state-owned firm operates at the Tavan Tolgoi deposit, believed to be the world's biggest coking coal deposit, which could simultaneously be listed on the Ulaanbaatar, London, and Hong Kong capital markets.

BNP Paribas, Deutsche Bank, Goldman Sachs, and Macquarie have already been shortlisted as advisors on the initial public offering (IPO), expected to rise as much as USD 15 billion. Ts. Tsenguun, head of the investment and financing department at Erdenes Tavan Tolgoi, said one or two other names could be added as joint bookrunners or co-lead managers.

“It all depends on the listing structure and the venue,” he said.