Fi­nan­cial Reg­u­la­tory Com­mis­sion ap­proves trans­ac­tion on Mon­go­lia’s first pri­vate ex­change


The Fi­nan­cial Reg­u­la­tory Com­mis­sion (FRC) ap­proved the pro­posed pub­lic list­ing of And En­ergy LLC to list 34 per­cent of its shares on the Mon­go­lian Se­cu­ri­ties Ex­change, the first pri­vate ex­change in Mon­go­lia.

With the de­ci­sion, FRC has al­lowed the first pri­vate ex­change in Mon­go­lia, the Mon­go­lian Se­cu­ri­ties Ex­change, to con­duct its first pub­lic stock trans­ac­tion. And En­ergy LLC will of­fer 34 per­cent or 26.5 mil­lion shares priced at 60 MNT each.

And En­ergy is a com­pany fo­cused on elec­tri­cal ap­pli­ances such as LEDs, hav­ing estab­lished a LED fac­tory named Er­denet LED. The rea­son for the list­ing is to raise money to im­prove the ca­pac­ity of their LED fac­tory.

In 2015, FRC pro­vided the Mon­go­lian Se­cu­ri­ties Ex­change a li­cense to op­er­ate un­der the goal of im­prov­ing the com­pet­i­tive­ness of the stock mar­ket and to estab­lished an ex­change sup­port­ing small-tomedium en­ter­prises. The pri­vate ex­change cur­rently has 11 mem­bers.

Bum­bat-Al­tai Bro­ker-Dealer has been as­signed as un­der­writer for the list­ing. If 80 per­cent of the shares are sold on the pri­mary mar­ket, it will be deemed as sat­is­fac­tory to And En­ergy LLC.

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