Davis Polk advised Mongolian Mining Corporation on its $201 million global rights offering. The global rights offering consisted of a public offering of H shares (shares listed on the Hong Kong Stock Exchange) in Hong Kong and private placements of H shares to institutional investors outside of Hong Kong, including within the United States to a limited number of qualified institutional investors in reliance on Section 4(a)(2) of the U.S. Securities Act. J.P. Morgan Securities (Asia Pacific) Limited and BNP Paribas Securities (Asia) Limited were the joint underwriters, and Somerley Capital Limited was the independent financial adviser of the H share rights offering.

Mongolian Mining Corporation is the largest producer and exporter of high-quality hard coking coal in Mongolia. The company is listed on the Hong Kong Stock Exchange (stock code: 975).

The Davis Polk corporate team included partner Paul Chow, counsel Peter Cheng and associate Wilson Chan. Partner Eugene C. Gregor and counsel-registered foreign lawyer Terrence R. O’Donnell provided advice as to the private placements of H shares to qualified institutional investors in the United States. Partner John D. Paton and associate Sarah Joy provided tax advice. Members of the Davis Polk team are based in the Hong Kong and London offices.