Ulaanbaatar
Tumen shuvuut IPO oversubscribed by 9.1 percent
Economy
Ulaanbaatar /MONTSAME/ The Mongolian Stock Exchange reported that ‘Tumen shuvuut’ JSC, the first IPO of 2019, has closed the offering of its 25 percent or 50 million shares to the public. The offers were received from 15 January 2019 until 31 January 2019, 5:15 pm.
The total subscription for the stock has totaled 54,575,195 shares, oversubscribed by 9.1 percent and ordered by 2,991 individuals and business entities.
An allotment notice is to be delivered to the Financial Regulatory Commission (FRC) by February 1, 2019 and the right to redeem extra payment shall be effective upon FRC’s declaration of the company’s IPO as successful.
Source: Mongolian Stock Exchange
