Khu­vs­gul Al­tan Du­ulga to raise 3.7 bil­lion MNT on MSE

The UB Post - - Business & Economics -

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.

Newspapers in English

Newspapers from Mongolia

© PressReader. All rights reserved.