China Knowledge reported that China Nonferrous Metal Mining Co Ltd a large sized state owned enterprise under the State-owned Assets Supervision and Administration Commission has obtained approval from the Hong Kong Stock Exchange to list some of its mining asset in Hong Kong.

The company is expected to raise between USD 800 million and USD 1 billion through the initial public offering in Hong Kong, less than the previous target of between USD 1 billion and USD 1.24 billion.

The sources said the company plans to go ahead with the IPO next year due to the current volatile global markets.

China International Capital Corp, JPMorgan Chase & Co and UBS AG have been hired to handle the deal.

(Sourced from China Knowledge)