Gobi Cash­mere shares split

The UB Post - - Business & Economics -

The Fi­nan­cial Reg­u­la­tory Com­mis­sion de­cided to go through with a 100 for 1 stock split for Gobi Cash­mere joint stock com­pany (JSC) be­fore an­nounc­ing new li­cense hold­ers at its lat­est reg­u­lar meet­ing, held last Fri­day.

Ac­cord­ing to the de­ci­sion, Gobi Cash­mere’s 7,801,125 shares val­ued at 100 MNT have been di­vided by 100 to 780,112,500 of com­mon stock out­stand­ing, worth one MNT each. The share split is ex­pected to im­prove liq­uid­ity of shares, in­crease the num­ber of share­hold­ers, raise the com­pany’s mar­ket value, and thus, di­lute the con­cen­tra­tion of stocks.

The Fi­nan­cial Reg­u­la­tory Com­mis­sion in­structed the Mon­go­lian Stock Ex­change and Mon­go­lian Cen­tral Se­cu­ri­ties De­pos­i­tory to com­plete the split within 10 days.

Next, the com­mis­sion is­sued a li­cense in loan un­der­writ­ing to Trans­port De­vel­op­ment Bank, in­creas­ing the num­ber of loan un­der­writ­ers to 25 in Mon­go­lia. Onolt Yazguur LLC was also li­censed as an in­sur­ance bro­ker, Shi­idel Fi­nance LLC as a non-bank lender (for­eign cur­rency lend­ing in­cluded), and Cha­nar­tai Mun­gun Toig li­censed as a sav­ings and credit co­op­er­a­tive.

Meet­ing all cri­te­ria and fi­nan­cial re­quire­ments, Ex­clu­sive Change and Eco-de­vel­op­ment Mon­go­lia non-bank­ing fi­nan­cial in­sti­tu­tions ob­tained li­censes to en­gage in non­bank fi­nan­cial on­line trans­ac­tions, re­mit­tance and for­eign ex­change ser­vices.

The com­mis­sion then re­newed Tus Bro­kers LLC’s in­sur­ance bro­ker li­cense and changed the regis­tra­tion of AA Ap­praisal LLC.

Fuji Hold­ings had its non­bank­ing fi­nan­cial in­sti­tu­tion li­cense re­voked un­der grounds for fail­ing to fol­low re­lated laws, reg­u­la­tions, norms and stan­dards. For the same rea­son, Chand­mani An­du­u­dand Arvin Melmii lost their sav­ings and credit co­op­er­a­tive li­censes, while Iveelt-Inel, Royal Cash­mere, Tanan­deej Trade and Uvs Ta­van Er­denyn Un­darga had their li­cense to op­er­ate as com­mer­cial bro­ker at the Agri­cul­tural Com­modi­ties Ex­change sus­pended.

In ad­di­tion, Buyant Khadgalamj, Yalalt In­vest­ment, Mungu Un­darga Naran, Ikh Naran Bu­teelch Zaluus and Uud­lukh Credit com­pa­nies can no longer op­er­ate as sav­ings and credit co­op­er­a­tive, fol­low­ing new de­ci­sions by the Fi­nan­cial Reg­u­la­tory Com­mis­sion.

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