Mining billionaire and Ivanhoe founder Robert Friedland is rubbing his hands with glee at the prospect of a greener economy in Asia, especially in China.
The Hong Kong offering comes armed with six cornerstone investors and enough anchor demand to cover the entire base deal at launch. Separately, China Nonferrous Mining will resume its IPO today after securing a similar level of demand.
At its heart, HKEx’s successful bid for the London Metal Exchange (LME) demonstrates Asia’s ability to take long-term strategic positions, while the West scrabbles around for short-term infusions of cash.