The secondary market trading of LendMN JSC has started on March 14. The company offered 25 percent of its shares to the public and the strategic investors. Althought the company launched the IPO to raise MNT 2.5 billion from the public, the public offering was oversubscribed by 16.5 times. On the first trading day, LendMN JSC’s shares were traded at MNT 28.75 each. “The buy orders were high on the first day of trading. The company was aiming to raise MNT 2.5 billion in the primary market. Now, the secondary market demand is MNT 2.5 billion. After the IPO, the public knowledge about stocks has increased as well as people has started to explore other stocks, which has a positive effect on securities trading,” the CEO of Mirae Asset Secirities said.

Source: BloombergTv.mn