Ulaanbaatar
IPO of Mongolian Stock Exchange Oversubscribed by 4.8 Times
Economy
Ulaanbaatar /MONTSAME/. The "Mongolian Stock Exchange" (MSE) started its primary market trading on December 26 by offering 34 percent of its total of 119,157,598 shares to the public.
As a result, the MSE raised MNT 57.8 billion through 7.417 orders which exceeded its initial target of MNT 11.9 billion by 4.8 times.
The Financial Regulatory Commission will review the subscriptions according to the Regulation on Securities Registration and issue a final report.
As part of its New Revival Policy, the Government of Mongolia has made a decision to make 25 state-owned companies public by offering their shares. In accordance with the decision, the MSE became the first state-owned company to issue its IPO and convert into a public company.
The Minister of Finance, B. Javkhlan, emphasized
that the IPO of MSE became the starting point for publicizing state-owned
companies.
