Улаанбаатар
MSE marks 12th anniversary of first IPO in Mongolia
Economy
Ulaanbaatar /MONTSAME/ Twelve years ago, the first Initial Public Offering (IPO, an act of offering the stock of a company on a public stock exchange for the first time) was issued in the Mongolian Stock Exchange on May 25, 2005. Chief Representative of Japan International Cooperation Agency (JICA) Sato Mutsumi hit the gong of MSE to open the 5482nd trading session, which coincided with the 12th anniversary.
After the first IPO came out as a success in 2005, a total of 22 companies have applied for IPO to the Financial Regulatory Commission of Mongolia (FRC) and 15 of them attracted a total of MNT 97.6 billion funding from the public. Also, through an issuance of additional shares, 7 companies have fundraised MNT 32.8 billion.
D.Bayarsaikhan, Vice Chairman of the Financial Regulatory Commission mentioned the satisfactory outcome of “Project for Capacity building of Capital Market in Mongolia”, which was started in 2014. Also, D.Bayarsaikhan noted Mongolia’s efforts in resolving pressing issues, adapting international standards, improving traders, legal environment and introducing the practices of developed countries and expressed his gratitude towards JICA for their cooperation.
The first stage of the "Project for Capacity building of Capital Market in Mongolia" will be over by July while the second stage is scheduled to start in November by the agreement between Financial Regulatory Commission and JICA. He also shared his confidence for the project to receive satisfying result with its next stage, as well as to activate private entities for IPO and fundraise investments from international organizations.
The opening ceremony of the 5482nd trading day of the Mongolian Stock Exchange was attended by Vice Chairman of Financial Regulatory Commission D.Bayarsaikhan, Chief Representative of JICA Mongolia Office Sato Mutsumi and team members of Project for Capacity building of Capital Market in Mongolia.
The opening ceremony of the 5482nd trading day of the Mongolian Stock Exchange was attended by Vice Chairman of Financial Regulatory Commission D.Bayarsaikhan, Chief Representative of JICA Mongolia Office Sato Mutsumi and team members of Project for Capacity building of Capital Market in Mongolia.
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