PM hits gong to open “Mongol Post” LLC IPO

2016-01-08 15:11:58

Ulaanbaatar /MONTSAME/ The Premier Ch.Saikhanbileg hit the gong of the Mongolian Stock Exchange (MSE) to open IPO of the “Mongol Post” JSC Friday.

In accordance with parliament and government's decision, 34% shares of the state-owned Mongol Post company will be traded to people through the MSE, the rest of the shares will stay in the state ownership. By privatizing the 34 percent, the government plans to implement a project on logistic service of auto roads after raising 6.2 billion Togrog.

“We have received trade offers of MNT 12.6 billion from investors, which is higher than a size of a supply. It means the privatization of Mongol Post company has been successful,” the Premier underlined. He also said the company’s privatization has proven transparent, fair and equal privatization of state-owned properties through the MSE, and thanked state servants, private sector’s people, experts and investors for opening the IPO so successfully.

“Traded at the MSE, a number of governmental bonds has increased 14.3%, and bonds trade of five billion togrog has been done as of today. In addition, the trade of stocks, guaranteed by capitals, took place late 2015, and the Mongolian Mortgage Corporation has managed to carry out stock trade of MNT 20 billion. The Mongol Post became the first company among other eight companies which are partly privatized by the decision of parliament and government,” said Z.Narantuya, head of the Finance Regulatory Committee.