Thus, Mongolian Securities Exchange informs that these will act as guarantees for Park Town-2 project. The next financial instrument in the capital market is expected to be Ard Credit non-banking financial institution (NBFI). The company announced that they plan on raising MNT 5 billion from the stock market and have submitted necessary documents to the Financial Regulatory Commission (FRC) for approval. Simultaneously with Ard Credit, Tumen Shuvuut LLC notified the FRC for an IPO. The company, which runs a poultry farm, intends to raise MNT 10 billion within this year. This agribusiness with over 300,000 chickens annually supplies 60 million eggs to the domestic market and helps reduce import eggs to 40 percent, accounting for 30 percent of egg production and 20 percent of total egg market in Mongolia. Funding its operation from own assets and bank loans since the beginning, the company grew by 12 times since establishment.

Potential IPOs of Minj Property, Ard Credit and Tumen Shuvuut expected
Overall, five companies have offered 230 million units of shares and raised MNT 26.73 billion from IPOs this year. According to the FRC, a total of 304 publicly traded companies are operating nationwide. Analysts expect growing trend of entities going public, giving more options for investors in the domestic capital market. As for securities market, market capitalization grew 12.8 percent to MNT 2.35 trillion, which is 8.4 percent of 2017 year-end GDP as of the third quarter of this year.