Erdenes Tavantolgoi shares will be sold in London and Hong Kong

Nov 11 • Finance, Mining, News • 674 Views • No Comments on Erdenes Tavantolgoi shares will be sold in London and Hong Kong

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The working group presented ways of selling shares of “Erdenes tavan tolgoi” company at the domestic and foreign markets, choices of Stock exchanges, company structure at the Cabinet meeting on Wednesday.

It has been considered right to sell a apart of the shares through Stock exchanges of Mongolia, of London and of Hong Kong and to register the company, who sells the shares, in Great Britain. If to fit there into FTSE index, a demand will grow, as expected, and for this, a company must be created and registered in Great Britain.

The Cabinet obliged the authorities of the State property committee and “Erdenes MGL” company to work in this direction. The “Erdenes tavan tolgoi” company’s structure will be changed and related laws and rules will be amended. Main advisors and organizers of this issue are Deutsche bank of Germany, Goldman Sacs of the United states America, BNP Paribas of France, Macquarie bank of Australia. There are other international auditors and tax advisers who are cooperating in this matter. A key document on selling the shares has been elaborated as well.

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