Ulaanbaatar/MONTSAME/ The Cabinet held its regular meeting on October 3. At the meeting, D.Sumiyabazar, Minister of Mining and Heavy Industry and head of the working group responsible for ensuring preparations, was assigned to scrutinize and report on trading shares of a legal owner of the license of Tavan Tolgoi coal deposit through New York and Hong Kong Stock Exchanges. When choosing the stock exchange, general criteria will include investors’ knowledge on developing countries, in particular Mongolia’s market, experiences of issuing shares by state-owned and mining companies and market evaluation. Additionally, specific indices will be considered, such as the shortest period of making IPO to gain money and simplicity of post-trade regulation. New York Stock Exchange (NYSE) and the Stock Exchange of Hong Kong (SEHK) are often listed in the first five with their market capitalization.

Published Date:2018-10-04