"Erdene Resources Development", first dual-listed company on the Mongolian Stock Exchange, started receiving primary market orders. "BDSec SC" JSC is working as a main underwriter jointly with "Golomt Capital SC" LLC for the offering.

“Еrdene Resource Development” primary market orders will be received until 3 pm June 14th, 2018. The company is offering its 2.7 percent of total outstanding shares or 4,000,000 shares for MNT 640.00 per share and aiming to raise MNT 2.56 billion.

The company owns 4 licenses, of which 2 of them are "Altan Nar" and "Bayan Khundii" gold projects. Proceeds of the Mongolia Offering and the Private Placement are anticipated to fully fund the Company into 2019, and will be used to advance the Company's Bayan Khundii and Altan Nar gold projects, and to further explore and develop the Company’s other gold properties in southwestMongolia, as well as for working capital and general corporate purposes.

Share price of “Еrdene Resource Development” has decreased by 38 percent on the Toronto Stock Exchange. However, share price rose 7.37 percent to CAD 0.36 after its dual-listing on the Mongolian Stock Exchange.

Source: BloombergTv.mn