Ulaanbaatar
Erdenes Tavan Tolgoi submits bond issuance request to Mongolian Stock Exchange
Economy
Ulaanbaatar /MONTSAME/. On March 5, 2021, “Erdenes Tavantolgoi” JSC submitted a request to Mongolian Stock Exchange to issue the highest amount of up to 2 trillion MNT /as well as USD/ bonds in the financial market for the implementation of major projects such as construction of strategically important railways, coal processing and thermal power plants.
The event was attended by Ashidmunkh.S, Head of securities and finance department of “Erdenes Tavantolgoi” JSC, leading underwriter Dayanbilguun.D Executive director of “BDSEC” JSC, underwriter Gantulga.S, Director of “MICC” JSC, and Altai.Kh, Executive director of Mongolian Stock Exchange.
The request will be reviewed by the Mongolian Stock Exchange and the Financial Regulatory Commission, and trading orders will begin once the relevant approval is issued.
By starting bond trading and investing in planned developments, the company planned to mine 186.1 million tons of coal, sell 172.6 million tons of coal, have a total revenue of 10,742.4 million USD, a net profit of 3,664.4 million USD, and contribute 2,479.9 million USD to the state budget in 2021-2025.
