Khuvsgul Altan Duulga to raise 3.7 billion MNT on MSE
MSE-listed Khuvsgul Altan Duulga, a company engaging in the trading and manufacturing of agricultural products, will be raising 3.7 billion MNT through a secondary offering of 28 percent share of its company or 4.4 million shares.
Out of the total additional issue, 3.32 million shares will be offered to strategic investors by fixed price offering of 850 MNT per share, and the remaining 1.17 million shares will be offered to the public with the minimum price of 850 MNT per share.
The company was founded in 1994 and is headquartered in Khuvsgul Province. A roadshow meeting for market participants will be held on August 6 at Blue Sky Hotel.
The company is offering its 28 percent to public and strategic investors, and the proceeds will be used to purchase agricultural and mill house equipment, reduce loan balance, and finance current assets. Wheat and grain farming is the company’s biggest operation.
Bumbat-Altai SC LLC is working as the underwriter of the offering and orders will be received from August 8 to 16. On June 29, the Financial Regulatory Commission approved the issue of additional shares for 4.4 million shares with the nominal price of 100 MNT per share.