Ulaanbaatar
MNT 6 billion worth "Suu" bond released
Economy
Ulaanbaatar /MONTSAME/ Chairman of the Financial Regulatory Commission (FRC) S.Davaasuren hit the gong of MSE to welcome newly issued “Suu" bond today on June 28. With an interest rate of 17.5 percent and face value of MNT 100,000, the bond has a total value of MNT 6 billion. It is being considered as the highest valued bond ever traded at MSE.
Chairman of FRC S.Davaasuren delivered an opening speech and expressed her anticipation towards “Suu" bond to commence a new era in Mongolian stock market. Ms. S.Davaasuren said “Developing stock market is significant for creating multi-pillar financial sector, raising capitals and is the first step towards development. However, over ten companies have issued bonds and failed to work efficiently in the last 20 years. But we will support “Suu” JSC, one of the major entities in Mongolia.
Suu JSC's Chairman of the board D.Ganbaatar said “We provide 48 percent of domestic dairy products and 83 percent of fluid milks. One of the seven companies listed in the primary market of MSE, Suu JSC has around 1000 shareholders and will soon increase it up to 10 thousand. I am certain that our company will work efficiently”.
In Mongolia, the bonds have been traded since 2001 and a total of 15 companies have issued bonds and collected MNT 18.6 billion from investors. Bonds are low-cost method for raising capital with guaranteed return to the investors. Suu JSC is aiming to use the capital to introduce new packaging device into production, develop farming and repay foreign loans.
“Suu" bond will be available for the public to order at MSE until 12PM on June 29.
Chairman of FRC S.Davaasuren delivered an opening speech and expressed her anticipation towards “Suu" bond to commence a new era in Mongolian stock market. Ms. S.Davaasuren said “Developing stock market is significant for creating multi-pillar financial sector, raising capitals and is the first step towards development. However, over ten companies have issued bonds and failed to work efficiently in the last 20 years. But we will support “Suu” JSC, one of the major entities in Mongolia.
Suu JSC's Chairman of the board D.Ganbaatar said “We provide 48 percent of domestic dairy products and 83 percent of fluid milks. One of the seven companies listed in the primary market of MSE, Suu JSC has around 1000 shareholders and will soon increase it up to 10 thousand. I am certain that our company will work efficiently”.
In Mongolia, the bonds have been traded since 2001 and a total of 15 companies have issued bonds and collected MNT 18.6 billion from investors. Bonds are low-cost method for raising capital with guaranteed return to the investors. Suu JSC is aiming to use the capital to introduce new packaging device into production, develop farming and repay foreign loans.
“Suu" bond will be available for the public to order at MSE until 12PM on June 29.
B.Tugsbilig
