CIC in $700 mln deal with Hopu-backed mining co-source

HONG KONG, Oct 29 (Reuters) - China Investment Corp [CIC.UL] plans to invest $700 million in Iron Mining International Ltd, a company backed by Chinese private equity firm Hopu, a source familiar with the matter said on Thursday.

Iron Mining International, partly owned by private equity firm Hopu and Singapore's state investor Temasek [TEM.UL], is planning to list shares in Hong Kong late this year or early next year hoping to raise up to $1 billion [ID:nHKG44842].

Iron Mining was previously known as Lung Ming Investment Holdings Ltd.

The Wall Street Journal previously reported the CIC-Iron Mining agreement. (Reporting by Michael Flaherty and Farah Master; Editing by Lincoln Feast)