The opening ceremony of the initial public offering of the stocks of the "Mongolian Stock Exchange" state-owned shareholding company was held today. Since trading started at 10 AM on December 26, orders of MNT 4 billion have been received from citizens. 34 percent of the stock exchange was assessed by MNT 11.9 billion.
D. Angar, the former director of the stock exchange, said in relation to the assessment, "Golomt Bank was assessed by MNT 1 trillion recently, but the Mongolian Stock Exchange was assessed by MNT 30 billion. Is it possible to have a Stock Exchange which is 33 times less than a commercial bank? The building of the Stock Exchange was evaluated by MNT 4.9 billion and its land by MNT 10.5 billion. For example, a private house costs MNT 3-4 billion, and "Tavan Bogd" LLC purchased the land of UB gallery, located east side of the Parliament House, by MNT 24 billion 6-7 years ago. Now the land price has reached MNT 50 billion if USD exchange rate growth is estimated”.
Ten professional appraisers participated in the assessment of the stock exchange. D.Gantulga, one of them, was interviewed.
-We estimated the business assessment of the Stock Exchange by MNT 37.7 billion. After deducting a certain amount of incentives, 34 percent of the remaining amount was MNT 11.9 billion. External appraisers adhere to the average score when they make an assessment, neither high nor low. Property evaluation is different from business evaluation.
The assessment of the stock exchange business is much higher than the value of the building. UB gallery land was assessed by MNT 7.5 million per square meter. But the stock exchange land was assessed by MNT 12.6 million per square meter. The building, including the right to own the land, was assessed by MNT 15 billion.
While the assessment of the business was estimated at MNT 36.7 billion. The assessment of a business is not measured by buildings. The IPO is based more on the future income and operations of the business. Technology companies have almost no capital, but high evaluations, which means that the technology they own and the potential future income are large.
The opening ceremony of the initial public offering of the stocks of the "Mongolian Stock Exchange" state-owned shareholding company was held today. Since trading started at 10 AM on December 26, orders of MNT 4 billion have been received from citizens. 34 percent of the stock exchange was assessed by MNT 11.9 billion.
D. Angar, the former director of the stock exchange, said in relation to the assessment, "Golomt Bank was assessed by MNT 1 trillion recently, but the Mongolian Stock Exchange was assessed by MNT 30 billion. Is it possible to have a Stock Exchange which is 33 times less than a commercial bank? The building of the Stock Exchange was evaluated by MNT 4.9 billion and its land by MNT 10.5 billion. For example, a private house costs MNT 3-4 billion, and "Tavan Bogd" LLC purchased the land of UB gallery, located east side of the Parliament House, by MNT 24 billion 6-7 years ago. Now the land price has reached MNT 50 billion if USD exchange rate growth is estimated”.
Ten professional appraisers participated in the assessment of the stock exchange. D.Gantulga, one of them, was interviewed.
-We estimated the business assessment of the Stock Exchange by MNT 37.7 billion. After deducting a certain amount of incentives, 34 percent of the remaining amount was MNT 11.9 billion. External appraisers adhere to the average score when they make an assessment, neither high nor low. Property evaluation is different from business evaluation.
The assessment of the stock exchange business is much higher than the value of the building. UB gallery land was assessed by MNT 7.5 million per square meter. But the stock exchange land was assessed by MNT 12.6 million per square meter. The building, including the right to own the land, was assessed by MNT 15 billion.
While the assessment of the business was estimated at MNT 36.7 billion. The assessment of a business is not measured by buildings. The IPO is based more on the future income and operations of the business. Technology companies have almost no capital, but high evaluations, which means that the technology they own and the potential future income are large.