MSE overperforms profit plan by 27 percent

ZGM DAILY

2018-05-29 08:24 GMT+8

Cabinet issued a decision to privatize the Mongolian Stock Exchange (MSE). MSE’s financial statements show that the company operated under loss for 4-5 consecutive years. As for 2017, the company’s revenue exceeded its profit plan by 27 percent, reaching MNT 1.8 billion. MSE conducted trades worth about MNT 860 billion in 2017, the largest amount of trade in its history. The amount of trades grew by 146 percent compared to the previous year. As of the first four months of this year, MSE conducted trades worth MNT 52.5 billion.

Within the last half year, three companies issued their IPO at the MSE. Last week, MSE issued its first dual-registration permit to a TSX-listed company Erdene Resource Development. Additionally, national insurance companies expressed their interest to raise investment from the stock exchange, informed Altai Khangai, CEO of the MSE. He added that several companies have expressed their interest in issuing additional shares.

The CEO of Bumbat Altai Securities company highlighted that Mongolia’s stock market is expected to active intensely in the next 2-3 years. Cabinet noted that there is directive to privatize state-owned shareholding companies through the MSE. At present, there are a total of 218 joint stock companies listed at the MSE.

Murun.N

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