Mongolian Stock Exchange (MSE) hosted Wednesday an opening ceremony of the Roadshow for primary market issuance of the 'Mongol Basalt' JSC with the presence of Kh.Altai, MSE CEO, B.Lkhagvajav, Chairman of the Board and CEO of the Mongolian National Chamber of Commerce and Industry (MNCCI), L.Ariunbold, CEO of ‘Mongol Basalt’ JSC. They hit the gong to open the 5719th trading of MSE. It was also attended by D.Tserenjigmed, President of Mongolian National Association of Construction, Ono Kazyaki, Head of Mongolian branch of Marubeni Commerce Company of Japan, Sh.Batjargal, Chairman of ‘Bumbat-Altai UtsK’ LLC, Ch.Jargal, CEO of ‘Standard Investment UtsK’ LLC and Han Gyu Byeong, CEO of ‘Gauli UtsK’ LLC.
Founded in 2007, ‘Mongol Basalt’ JSC is the first and only company that produces stone wool insulation materials in Mongolia. The company is offering 30 percent or 16,925,100 shares of total outstanding shares to the public for MNT380.00 per share or total of MNT6 billion 431 million and 538 thousand. The accumulated funds will be used for expansion of the operation by upgrading its production facilities as well as extending product ranges.
‘Bumbat Altai’ LLC will work as an underwriter for this IPO jointly with ‘Gauli’ LLC and ‘Standard Investment’ LLC. The subscription process will take place on May 14-23, 2018.
An event will be held at 11.00 am on May 12 in ‘Tuushin’ hotel to present shares of ‘Mongol Basalt’ JSC to the public.