“ARD CREDIT NBFI” JSC IPO OVERSUBSCRIBED 3 TIMES


‘Ard Credit NBFI’ JSC, the second newly listed company on the Mongolian Stock Exchange in 2019, is offering its 70.0 million shares /25 percent of total shares/ to strategic investors and the public. The subscriptions were received from February 18th 2019 until March 1st2019.

The total subscription for the stock has totaled 1,659,715,218 shares, ordered by 1,763 individuals and entities for ‘Ard Credit NBFI’s 12.5 percent or 35 million shares offered to the public, which was an oversubscription by 3 times.

‘Ard Credit NBFI’ JSC offered 35 million shares to the public at MNT70-85 by using a book building approach in accordance with the MSE’s ‘Primary Market Trading Regulation’. Despite the fact that most of orders were placed at MNT85.00, ‘Ard Capital Group’ LLC, an underwriter of the offering, and ‘Ard Credit NBFI’ JSC approved to sell at the price of MNT81 which is the weighted average price taking into account the benefit of the investors. The orders placed at the price lower than MNT81.00 will not be fulfilled and the orders placed at the price above MNT81.00 will be fulfilled at the proportion of 43.73%.

The right to redeem extra payment shall be effective upon FRC’s declaration of the company’s IPO as successful.

Source: Mongolian Stock Exchange


March 5, 2019
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