Mongolian Stock Exchange discusses cooperation opportunities with Toronto Stock ExchangePolitics
Ulaanbaatar /MONTSAME/ During the annual Prospectors & Developers Association International Convention which was held in Toronto, Canada during March 05-08, 2017, Mongolian delegates held discussions regarding potential cooperation opportunities with the Toronto Stock Exchange representatives, Robert Peterman, Director of Global Business Development at the Toronto Stock Exchange (TSX) & TSX Venture Exchange and Ungad Chadda, President of Capital Formation for Equity Capital Markets at TMX Group (owner of Toronto Stock Exchange).
Mongolian delegates present during the meeting included Dashdorj Ts, Minister of Mining and Heavy Industry, Undraa A, Member of Parliament, Baatartsogt B, Head of Mineral Resources and Petroleum Authority of Mongolia, Altai Kh, CEO of ‘Mongolian Stock Exchange’ JSC (MSE) and other government officials. The parties discussed potential cooperation opportunities, particularly the facilitation of dual-listing at TSX and MSE.
Although the Securities Markets Law passed in 2013 established the legal framework for dual-listing, Mongolia is yet to see its first dual-listing. Currently, there are eleven companies with operations in Mongolia that are listed on TSX, such as Erdene Resource Development Corp, Southgobi Resources Ltd and Turquoise Hill Resources Ltd. The cooperation between the TSX and MSE will facilitate the dual listing of TSX listed companies on Mongolian markets, creating opportunities for Mongolians to share ownership in the mining companies.
TSX is the 9th largest stock exchange by its market capitalization with a total of 3,278 listed companies and the world’s largest exchange by the number of mining listings. In 2015, CAD 57.7 billion were raised on TSX and more than half of global mining capital are raised through the TSX.
MONGOLIAN STOCK EXCHANGE