During the Prospectors & Developers Association of Canada’s conference that took place in Toronto, Canada, Director of Global Business Development at Toronto Stock Exchange Robert Peterman and President of Capital Formation for Equity Capital Ungad Chadda have received the delegates of Mongolian Stock Exchange (MSE).
The meeting was attended by Minister of Mining and Heavy Industry Ts.Dashdorj, MP A.Undraa, head of Mineral Resources and Petroleum Authority of the Government Implementing Agency B.Baatartsogt, CEO of Mongolian Stock Exchange Kh.Altai and other delegates from Mongolia.
As a result, MSE and Toronto’s Stock Exchange have decided to cooperate on starting double-registration activities. Although Mongolia enabled legal environment of double registration, stock companies have not taken advantage of this opportunity yet.
Toronto Stock Exchange is considered as one of the biggest stock market as it is ranked 9th in the world. A total of 3.278 registered companies are traded in the Stock Exchange with mostly mining companies. In 2015, the Stock Exchange raised a total of CAD 57.7 million funds.
Around 11 companies that operate in Mongolia are registered in the Toronto Stock Exchange, such as “Erdene Resource Development Corporation”, “South Gobi Resources” and “Turquoise Hill Resources”. Once the cooperation takes effect, these companies will be registered in MSE, offering shares and securities to the investors.
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