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Lendmn launches IPO www.montsame.mn
Ulaanbaatar /MONTSAME/ LendMN, the first pintech of Mongolian financial sector that based on artificial mind officially announced the launch of its IPO, holding bell ceremony on February 21 at the Mongolian Stock Exchange (MSE).
LendMN Company plans to raise MNT 5 billion from the market, selling 25 percent of its outstanding shares at MNT25 per share. The company expects to attract MNT 2.5 billion from strategic investors, anothet MNT 2.5 billion from the public.
LendMN Company was officially launched its operation in 2017, offering micro credit on consumption with amount of MNT 50 thousand to MNT 1 million to customers through mobile application without collateral and in short time. Currently, the company granted MNT 16.7 billion loan. Through lendmn application, customer’s number reached 30 thousand and 5-6 thousand customers are being newly registered monthly. Loan repayment is 98 percent and poor loan quality makes up 0.8 percent now. The company plans to issue MNT 196 billion loan to 59 thousand customers in 2018.
LendMN is the 18th IPO of the MSE and the first non-banking financial institution which is launching IPO on the MSE.
Primary market order of the LendMN Company will close at 1PM, on March 13.
Published Date:2018-02-22
