ITools IPO oversubscribed by 1.15

2017-11-08 17:36 GMT+8

ITools, the most recent company to be listed on the Mongolian Stock Exchange, is offering 13.4 million shares, or 38.6%, of its shares outstanding for its IPO.

While total subscription for the stock had reached 79% on November 7th, 2017, it has reached 115 percent or a combined 15.5 million shares ordered by 443 individuals and entities, today.

Due to the oversubscription of the stock, the shares will be allotted as follows:

  1. Orders for up to MNT 50 million will be fully filled, while orders over MNT 50 million will be allotted on a pro-rata basis.
  2. In the case where orders worth MNT 50 million exceed the total offered amount of ITools shares, orders up to MNT 1 million will take priority and orders over MNT 1 million will be allotted on a pro-rata basis.
  3. Orders of investors who split their orders among two or more brokers will be summed and counted as one order.

Orders for ITools stock will conclude on November, 11th, 2017.

ITOOLS JSC is offering at a fixed price of MNT100 per share to finance the expansion of its data center business by establishing a TIER III standard Modular Data Center Park in Darkhan City and started taking orders from November 1st, 2017.

According to FRC Resolution no.173, titled “Listing of publicly offered stocks” of September 27th, 2017,  the IPO of ITOOLS JSC will be considered to have been successful if 75 percent or more of its offering has been filled.

                                                      MONGOLIAN STOCK EXCHANGE

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