Mongolian Mining targets $700 mln via HK IPO -term sheet

HONG KONG, Sept 1 (Reuters) - Mongolian coking coal company Mongolian Mining Corp (formerly Energy Resources) plans to raise about $700 million through an initial public offering on the Hong Kong stock exchange, according a term sheet obtained by Reuters.

Mongolian Mining, which aims to price the offer on Sept. 24, will be the first company listed in Hong Kong to be fully based and operated in Mongolia. The listing is scheduled for Oct. 5.

JP Morgan (JPM.N) and Citigroup (C.N) are handling the IPO.

For a related story: [ID:nTOE67Q06H]. (Reporting by Denny Thomas; Editing by Chris Lewis)