Mongolian Mining Corp has raised HK$5.05 billion ($650 million) after pricing its Hong Kong initial public offering at the mid-point of the range and will become the first Mongolian-owned company to trade on the Hong Kong stock exchange when it debuts on October 13. It is also the largest initial public offering in Hong Kong since Agricultural Bank of China's record-breaking dual-listing in July, although that won't last long since AIA Group kicked off the institutional marketing for its IPO yesterday, which is targeting as much as $14.9 billion from the base deal alone (see separate story on our website today). While MMC was a bit slower than some other deals to gain momentum, investors did warm to the coal miner after meeting with the management and getting a better grasp of the company and its expansion plans. In the end, more than 100 institutional investors bought into the transaction.