"Mandal Daatgal" JSC, the 5th new issue listed on MSE in 2018 as well as the first insurance IPO, is offering its 25 percent or 1,560,754 shares of total outstanding shares to the public for MNT4800 per share or total of MNT7.49 billion.

The proceeds will be used to improve its risk management capabilities by increasing the owner's equity as well as invest in the capital market in accordance with the FRC rules. 

The undewriting service of this issue was provided by "Golomt Capital" LLC, financial audit by "Ulaanbaatar Audit Corporation" LLC, legal opinion by "Batbayar and Partners" law firm and asset valuation by "BDO Audti" LLC. 

Subscription for the stock will be open during the period between 9:00am Tuesday, 4th September 2018 to 3:00pm Tuesday, 18th September, 2018.

In case of oversubscription for the stock, MNT 1 billion of shares will be allocated equally to all investors and the remaining MNT 6.49 billion of shares will be allocated on a pro-rata basis.  

Click here to view prospectus of the IPO.

Source: Mongolian Stock Exchange