Published: March 28, 2011
Bank planning IPO in London or Hong Kong this year.
Eurasia Capital, an investment bank focusing on Mongolia and Central Asia, is planning to raise US$100mn through an initial public offering, its founder and chairman has told EMEA Finance.
Alisher Ali, a former investment banker at Moscow-based Renaissance Capital, says that the listing could take place in either London or Hong Kong and is likely to happen in the final quarter of the year.
Ali adds that he intends to meet advisers in London and Hong Kong in the next few weeks to discuss taking the bank public.
Eurasia will use the proceeds to establish new offices outside of Mongolia to benefit from the increasing trend for natural resource companies in Central Asia, Russia and Mongolia to raise funds in Hong Kong. “We would like to be in a position to participate in those IPOs directly in the future,” Ali says.
He adds that the bank will also be looking to service investors looking to invest in Central Asia and Mongolia.