KHAN BANK selected specialized entities to cooperate with for the launch of its IPOEconomy
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.