Foreign banks selected to make Erdenes Tavan Tolgoi Company's IPO

Economy
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2019-12-17 12:52:18

Ulaanbaatar /MONTSAME/ The Government of Mongolia has granted rights to sell up to 30 percent of total shares of Erdenes Tavan Tolgoi Company through domestic and foreign stock exchanges.


Works to launch the IPO is ongoing and banks in charge of IPO issuance have been selected. Specifically, the three banks  are ‘Merrill Lynch’ (American investing and wealth management division of Bank of America), ‘Credit Suisse’ (Swiss Multinational investment bank) and ‘Nomura’ (Japanese financial services group). The IPO of ETT will be listed at London and Hong Kong Stock Exchanges.  


The aforementioned three banks have been chosen out of 25 international banks in which the Government sent invitations. Furthermore, ‘Linklaters’, multinational law firm headquartered in London, has been selected to provide legal assistance.