The Financial Regulatory Commission at its Meeting held on 7th February 2018 passed a Decision to register ‘LendMN’ LLC’s (the Company) 800 mln shares with MNT 10.0 nominal price each and approved public offering of 25 percent of the amount or 200 mln shares for MNT25.00.
In particular, the company is planning to offer its 12.5 percent or 100 mln shares to the public and another 12.5 percent to strategic investors and aims to raise total of MNT5.0 billion to be used as a source for its consumer loans, the main financial product of the company. The public offering is being carried out by Mirae Asset Securities Mongolian LLC as underwriter, Ernst&Young Mongolia Audit LLC as auditor, “MDSand Khaanlex” LLC as legal advisor and Gerege Estimate LLC as asset valuation service provider.
The FRC also stated that the initial public offering will be considered successful if subscription rate reaches 80 percent and above, and any remaining shares unsold to be voided.
MONGOLIAN STOCK EXCHANGE