Ulaanbaatar
Tumen Shuvuut JSC launches IPO
Economy
Ulaanbaatar /MONTSAME/ Primary market order opening and the opening bell ceremony for Tumen Shuvuut JSC, a newly listed company on the Tier 2, have been held today at the Mongolian Stock Exchange.
Established in 2004, Tumen Shuvuut JSC with its 160 employees makes up 53 percent of egg production industry alone in Mongolia, having over 310,000 broody hens.
The Company is offering 25 percent or 5 million shares of its outstanding shares to the public for MNT 200 per share. It aims to draw MNT 10 billion from the market and the money will be spent for expansion of its broody hens farming, irrigation field and flour and fodder processing plant as well as for the new construction of chicken farming for meat and organic fertilizer manufacturing plant.
Subscription for the stock will be received until 3:00 pm, January 31.
