National Privatization Fund's offering oversubscribedEconomy
Ulaanbaatar /MONTSAME/. Mongolia’s first closed-end mutual fund, National Privatization Fund (NPF) started a New Fund Offering (NFO) from October 5.
The Fund was oversubscribed by MNT 1 billion and raised MNT 5 billion on its closing date of October 16 from over 2.5 thousand private and institutional investors. This milestone event coincides with the 30th anniversary of the Mongolian Stock Exchange.
NPF has issued 50 million units valued at MNT 100 per unit, and 95 percent of the Fund or 47.5 million units were offered to the public.
NPF is the Nation’s first dedicated institutional investor and will be active on domestic and international markets on behalf of its investors.
NPF is the first diversified investment product traded on MSE that is managed by professional managers and crafted for passive investors who want to invest in the domestic and international capital markets.
Investors who missed the deadline or were unable to participate in the NFO, can buy the units from the secondary market. More information is available on website www.ardmanagement.mn.