Sept. 1 (Bloomberg) -- Mongolian Mining Corp. is selling about $700 million of stock in an initial public offering, the first by a Mongolian company in Hong Kong, according to a term sheet sent to investors by the sale’s arrangers.

Mongolian Mining, formerly known as Energy Resources, plans to price its shares on Sept. 24 and start trading on Oct. 5, the term sheet said. Citigroup Inc. and JPMorgan Chase & Co. are managing the IPO.