"Mongol Basalt" closed joint stock company becomes an open joint stock company. The company is offering 30 percent of its shares at MNT 380 to the public. Although the company is offering its shares at MNT 380, the business valuation of a stock is equal to MNT 639. According to the CEO of 'Mongol Basalt' CJSC, the company is offering its shares 40.5 percent less than the fair value of a share. 

As a result 'Mongol Basalt', the producer of Rockwool insulation, is raising MNT 6.4 billion. Of which 50 percent or MNT 3.2 billion will be attracted from strategic investors. However, the Financial Regulatory Commission has stated that the primary market transaction will be considered successful if it sells 100 percent of publicly traded shares. The primary market subscription offering will be held from 14-23 May. MNT 6.4 billion will expand the capacity of production and increase product quality. Therefore, it will open new markets abroad for export.

Source: BloombergTV.mn 

On May 12, the company is organizing an event to introduce the security at Tuushin Hotel.

The IPO teaser of the company: Mongol Basalt JSC-IPO Teaser.pdf