Mongol Basalt IPO orders to open on May 14

The American Chamber of Commerce in Mongolia

2018-05-08 10:00 GMT+8

Mongol Basalt is in the process of becoming a publicly traded company and will offer 30 percent of its stocks through an IPO at the price of 380 MNT per stock.

During a meeting of the Financial Regulatory Commission on May 4, 56.4 million Mongol Basalt stocks were registered at the nominal price of 100 MNT per stock. Orders for the company’s IPO will be received from May 14 through 23.

Mongol Basalt hopes to generate 6.4 billion MNT in capital through the IPO, which they plan to invest in developing the company's manufacturing procedures and increasing their export volume.     

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