Firebird Mongolia Fund acquired 14.2% of Baganuur JSC (MSE:BAN)

Nov 11 • Companies, Mining, News • 734 Views • No Comments on Firebird Mongolia Fund acquired 14.2% of Baganuur JSC (MSE:BAN)

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A record setting trade was held at MSE on November 2,  with around US$ 15 million. Of the US $15 million, Baganuur JSC equity took 98% of the total trading with 2.9 million shares.

Firebird Mongolia Fund has purchased 14.28% of the equity of the Baganuur which is estimated to have 733.2 million tons of coal reserves and 75% is held by Mongolian Government.

Firebird Mongolia Fund started their operation in Mongolia since 2006 as a closed-end, limited life fund dedicated to local Mongolian equity securities.  Firebird Fund has about 14 branches around the world such as Canada, Korea, Japan, Saudi Arabia and etc. In addition, Firebird owns 50 percent of Sharyn Gol LLC which is a coal mining company and they are bringing new standard and reorganizing to the company.

Firebird is also partnering with Mongolian local banks and investment firms such as BDSec Securities.

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