Ulaanbaatar
KHAN BANK selected specialized entities to cooperate with for the launch of its IPO
Economy
Ulaanbaatar/MONTSAME/. The State Great Khural (Parliament) of Mongolia adopted amendments
to the Banking Law on January 29, 2021, requiring the restructuring of systemically
important commercial banks as public companies listed on a stock exchange. In
compliance with these changes, Khan Bank started the IPO preparation process in
February of this year.
Within the scope of preparations, Khan Bank has selectedand
signed agreements with independent specialized underwriting, legal, and
valuation entities to cooperate with for launching an IPO on Stock Exchange. This
marks the official launch of the Bank’s IPO project, which will make Khan Bank a
publicly listedcompany.
BDSec JSC has been selected to provide underwriting
services, KhanLex Partners LLP will serve as a legal advisor, and BDO Audit LLC
is selected to work on valuation and consulting. The selection process took
place among leading and well-respected companies licensed by the Financial
Regulatory Commission, as per relevant laws and regulations.
Khan
Bank is regarded as a major commercial bank in Mongolia, with more than 550
branches located in every corner nationwide, and it offers banking services to
more than 70 percent of all Mongolian households. It also holds one-third of
the total assets of the banking system and maintains a strong position in terms
of financial indicators, leading the Mongolian banking industry in
sustainability and consistency.
We believe the launch of Khan Bank’s IPO will allow
individuals and business entities to earn a return on their investments and,
furthermore, it will boost the overall development of the Mongolian securities
market.
Selected
partner entities:
BDSecJSC, the
selected underwriter, is a pioneer in the Mongolian financial sector and has
had 30 years of consistent operations. The securities company has been named
the Best Broker and Best Investment Bank in Mongolia by Global Banking &
Finance Review, an internationally recognized honor.
KhanLex
Partners LLP is one of the leading legal firms in
Mongolia, and provides legal advisory services mostly to entities engaging in
banking and finance, the stock market, infrastructure, energy, and corporate
governance.
BDO Audit LLC, which has
been operating in Mongolia since 2012, is a branch of BDO, the world’s 5th
largest global chain of audit, accounting, and advisory service providers.
