At its session on December 15, 2025, the Cabinet discussed and decided to submit to the State Great Khural (Parliament) a draft parliamentary resolution titled On Approving the Main Guidelines for the Privatization and Restructuring of State Property and the Public Offering of Shares of State-Owned Legal Entities through the Stock Exchange for 2025–2028.
Under the draft guidelines, the Government proposes to offer 10 to 66 percent of state-owned shares in 18 state-owned companies and enterprises operating in the aviation, energy, finance, mining, insurance, and selected trade sectors through the stock exchange, transforming them into publicly listed companies. The proposal also includes the full privatization of eight state-owned companies, as well as the merger, consolidation, and restructuring of seven state-owned companies and enterprises.
In addition, plans are outlined to offer portions of shares in a further six state-owned companies to the public and to fully divest the state’s ownership in five additional companies at a later stage.
If implemented, these measures would reduce the number of 100 percent state-owned companies and enterprises, increase the number of publicly listed companies, and decrease the total number of state-owned entities by 19, or 18.8 percent, bringing the total to 82.
The draft further specifies that additional ordinary shares of the following state-owned legal entities will be issued and offered to the public:
Telecom Mongolia JSC
Mongolian Commodity Exchange LLC
Mongolian National Reinsurance JSC
Mongolian Stock Exchange JSC
Agricultural Corporation LLC
Shivee-Ovoo JSC
Baganuur JSC
MIAT Mongolian Airlines SOE
State Bank JSC
Erdenes Tavantolgoi JSC
Erdenet Mining Corporation SOE
Erdenes Critical Minerals SOE
Thermal Power Plant No. III JSC
Thermal Power Plant No. IV JSC
Erdenet Thermal Power Plant JSC
Eastern Regional Energy System SOE
Darkhan Thermal Power Plant SOE
Amgalan Thermal Power Plant SOE

Published Date:2025-12-17