Mongolian Stock Exchange requests FRC to focus on double registration

2018-04-13 17:16:41
Ulaanbaatar /MONTSAME/ The Mongolian Stock Exchange (MSE) submitted a request to the Financial Regulatory Commision (FRC) to pay special attention to the examination of the first dual-listed company.

The Revised Law on Securities Market was approved in 2013 and in 2017 the FRC revised the double registration regulation and MSE’s ‘Securities Listing Regulation’, thus creating a legal environment for double registration of securities. In this regard, the first request of double registration was submitted to MSE and FRC simultaneously by a company listed on Toronto Stock Exchange on March 12.

The MSE has completed the examination of the company's securities registration within the period specified in the law and registered up to 4 million shares of the company worth of CAD 1.2 million in the Tier 3. However, the securities will be offered to the public after FRC’s registration.

“With the introduction of the double registration of securities over 30 mining companies operating in Mongolia that have registration at foreign exchange, will be able to trade their shares on the MSE. Moreover, the public will have access to these shares and it will be possible for them to benefit from the natural resources. It will also promote the development of Mongolia's securities market in line with the world's benchmark approach, improve the role of the securities market in the country's economy and create a favorable environment for fund raising” said CEO of the MSE Kh.Altai.