Since the beginning of 2018, 6 new new products have been launched in the domestic capital market, and these products attracted a total of MNT 30 billion from investors. The subscription amount received from investors was accounted for MNT 85 billion. In other words, the products were oversubscribed by 3 times.
Also, Park Town Bond of ‘Minj Property’ LLC has been successfully launched on the primary market on 10 December 2018, which was the 267th trading day of Mongol Securities Exchange. The company has raised MNT 1 billion from the public through the offer. According to the articles 4.4.11 and 4.4.13 of Listing rules of Financial Regulatory Commission, the detailed trading data will be released to public after the FRC approval of the primary market trading of Park Town Bond. Therefore, the oversubscription amount on the bond is unknown yet.

IPOs in 2017 were oversubscribed by 2 times on average. This year, the IPOs continue to be oversubscribed. According to the Mongolian Stock Exchange, the primary market issuance is oversubscribed by three times on average.

In 2018, the year with maximum IPOs launched in the domestic capital market, shares of ‘LendMN’ JSC were the most subscribed. The company aimed to raise MNT 2.5 billion from the public and MNT 2.5 billion from strategic investors. Public subscription received MNT 41.5 billion, which was oversubscribed by 16.6 times. In addition, shares of ‘Mongol Basalt’ JSC was oversubscribed by 3.2 times, and the primary market subscription reached MNT 20.4 billion.

The CEO of the Mongolian Stock Exchange emphasized that number of companies will launch their IPOs in 2019 as well as some companies are interested in dual-listing on the MSE.

Source: BloombergTv.mn