Eldorado Gold said to seek $1.5 billion for China projects

Vancouver-based Eldorado Gold (EDG.TSE, EGO.NYSE) is seeking as much as US$1.5 billion for its four Chinese projects as part of a dual-track sales process following an October announcement of plans for a Hong Kong initial public offering, Bloomberg reported, citing anonymous sources. Exploring both a sale and an IPO, known as a dual-track process, can help propel a deal by pressuring buyers to act before a stock offering puts the company in public investors’ hands. Eldorado plans to seek about US$250 million from an IPO of the business if the listing plans move forward, a person familiar with the matter said.