Kinetic Mines prices IPO at bottom to raise $150 million

Kinetic Mines and Energy, which is developing a thermal coal mine in China’s Inner Mongolia region, has raised HK$1.17 billion ($150 million) from its Hong Kong initial public offering. This makes it the third-biggest deal in the city so far this year after Sunshine Oilsands and Xiwang Special Steel, which raised $580 million and $171 million respectively.