“GOLOMT BANK“ LLC HAS REGISTERED SHARES TO BE ISSUED AS PUBLIC OFFER

Ulaanbaatar /MONTSAME/. A total of 31 issues were discussed at the 20th regular meeting of the FRC (9 November 2022), and decided to register the ordinary shares of "Golomt Bank" LLC in the register of securities approved for public offering. "Golomt Bank" LLC is the second bank among influential banks in the banking system to register its shares for public offering within the framework of the reform of the banking system. Implementation of public offering of shares (IPO) by banks will increase the value of the stock market, increase the number of new products with good liquidity, improve the activity and participation of foreign and domestic investors, and make banking operations more transparent and open. In addition to the creation of long-term sources of financing for banks and the increase in credit output, it will be an important step in creating a multi-pillar financial system.

Also, it was decided to register bonds to be issued under the program as a public offering of "Invescor BBSB" JSC. The company plans to raise a total of MNT 50.0 billion by partially issuing its bonds.

It was also decided to register;

• securities backed by assets issued by two companies,
• two companies as legal entities that provide legal advice to participants in the securities market,
• to grant a special license to one company to engage in investment management activities.

Also:

• two companies were granted a special license to operate as a real estate brokerage organization,
• three individuals were granted a special license to operate as a trader in precious metals, precious stones, or articles made from them,
• four savings and credit cooperatives were granted a special license to operate, and
• one approved changes in the structure and composition of the company's shareholders,
• to restore the special license of one company to engage in brokerage activities in the securities market and six companies to engage in non-banking financial activities.

FRC

Source:https://montsame.mn/en/read/307818