The Board of Directors of Anod Bank held a press conference at Mongolian Stock Exchange in this morning and announced that Anod Bank is now public company. Anod Bank offers 19.3 million share of 20 billion which will be traded 19-23 this month. Trading process will proceed through Nobel Laureate William Vickrey’s method of competitive sealed tender, named “Open IPO”. This method limits a major shareholder’s advantage and protects small shareholder’s rights properly. With this activity, Anod Bank hopes to raise its asset and also tends to more IPOs in foreign stock market. Anod Bank is planning to spend its stock market profit for mortgage lending.
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