Ulaanbaatar
Premier meets shareholders of “Mongol Post” JSC
PoliticsUlaanbaatar /MONTSAME/ The Prime Minister Ch.Saikhanbileg Tuesday received representatives of shareholders of the “Mongol Post” joint stock company.
Through the Stock Exchange of Mongolia (MSE), 34% of the company’s shares were traded last week to some 300 people, “Ard” financial community and “Khishig Arvin Industrial” LLC.
By privatizing the 34 percent of the “Mongol Post”, the government will implement a project on logistic service of auto roads after having raised 6.2 billion Togrog, the Premier said, and emphasized a significance of ensuring an adequacy and equality of the shareholders "because the more protected the interests of the shareholders, the more people will become interested in investing in privatization and stock market".
“The 34% is the block of shares reflected in the corporate law, so it is not possible to make any big decisions of the company without a permission of the shareholders. The postage industry is vital for any country, and I hope that the state-private sector partnership will be ensured well in the industry,” Saikhanbileg said.
A chair of the “Ard” financial community’s Board of Directors J.Oyungerel thanked the state bodies for "the successful organization of the Mongol Post's privatization", noting that this company "has become the very first one in Mongolia to be partly privatized openly".
Holders of small amount of shares have a right of disposal, Oyungerel added and asked the PM to ensure normal operations of the company and keep it far from politics.
