Mongolian Market Updates | December 17, 2024

🌄 Good morning!

The Monetary Policy Committee (MPC) of the Bank of Mongolia held its scheduled meetings on December 13th, 2024. The MPC decided to:

• Keep the policy rate unchanged at 10%

• Increase the reserve requirement on the liabilities in both domestic and foreign currency by 1% points to 11% and 16% respectively.

🗞️ In this week’s newsletter:

• Client News

• Market News

🟣 Client News

Golomt Bank [MSE: GLMT] has officially launched Apple Pay in Mongolia, marking a significant advancement in the country's digital payments landscape.

💳 Customers who use iPhone and other Apple devices can now link their bank cards to Apple Pay, enabling them to make payments securely, quickly, and conveniently through this innovative platform.

Trade and Development Bank [MSE: TDB] has also launched Apple Pay at the same time, providing Mongolian consumers with safe and efficient payment solutions. This dual launch represents a major milestone in the digital transformation of Mongolia's banking and financial sector, driving the adoption of global payment standards.

Monlogistics Holding [MSE: MLG] had announced its plan to use funds raised from the IPO to purchase wagons for export transportation. The company has received its first fleet of wagons in line with this plan.

Initially, 50 open-top wagons were purchased, and the company plans to acquire additional wagons in the first quarter of 2025.

👀 This investment is significant for exporting mining products and increasing the group’s revenue.

🏛️ Market News

• Mongolian Mining Corporation [HKEX: 975; OTCQX: MOGLF] has successfully been listed on the OTCQX Best Markets.

  This milestone enhances connections with U.S. investors, providing them with opportunities for transparent trading.

• The inflation rate reached 8.1% in November 2024, marking an increase of 1.1 percentage points compared to the previous month.

• A total of 6.3 million shares of Ard Credit NBFI [MSE: ADB] were traded in a block trade, valued at ₮634 million.

• XacBank [MSE: XAC] announced to buyback up to 2,200,000 shares at ₮826 per share, with a total value of ₮1.75 billion.

• A total of 317,000 shares of Invescore NBFI [MSE: INV] were traded in a block trade, valued at ₮2.6 billion. Since the release of the Q2 financial report on the Mongolian Stock Exchange, a total of ₮24 billion worth of shares have been traded. During this period, the stock price has increased by 19%, reaching ₮8,450.

🟣CMM Services

Capital Markets Mongolia (CMM) specializes in providing strategic advisory to public companies on optimizing investor relations (IR) and advising on upcoming IPOs, bond issuances, and effective participation in the capital markets with a focus on efficiency and reputation. Additionally, we undertake market research and provide financial PR services.