XacBank Goes PublicEconomy
Ulaanbaatar, May 30, 2023 /MONTSAME/. The bell-ringing ceremony for the opening of the initial public offering of XacBank was held yesterday at the Mongolian Stock Exchange.
President of the Bank of Mongolia B. Lkhagvasuren, Chairman of the Financial Regulatory Committee D. Bayarsaikhan, Executive Director of the Mongolian Stock Exchange Kh. Altai, Chairman of the Board of Directors of XacBank Sanjay Gupta, and Khasbank's Executive Director G. Tsevegjav attended the bell-ringing ceremony.
XacBank is offering MNT 677 per share to collect 5.01 percent of its total shares or MNT 35.7 billion. The Xacbank IPO will close on June 5 at 4.00pm.
"Rhynos Investment" is the main commercial underwriter, and "Ulziy & Co Capital" is the assistant underwriter. XacBank has announced that it will use the capital raised from the public to expand its activities or to increase its portfolios of loans and financial leases.