Mongolian Market Updates | November 26, 2024

🌄 Good morning!

Moody's upgraded the ratings of Mongolian banks following the upgrade of the Government of Mongolia's issuer rating to B2 from B3, reflecting improved debt management and fiscal consolidation. The upgraded ratings apply to Bogd Bank [MSE: BOGD], Khan Bank [MSE: KHAN], State Bank [MSE: SBM], XacBank [MSE: XAC], Golomt Bank [MSE: GLMT], Trade and Development Bank of Mongolia [MSE: TDB], Development Bank of Mongolia, and Capitron Bank, reflecting enhanced creditworthiness and financial stability.

🗞️ In this week’s newsletter:

• CMM Upcoming Events

• CMM Client News

• CMM Guide: Green Finance

• Market News

👀 CMM Upcoming Events

📅 Save the dates for Capital Markets Mongolia's (CMM) exciting 2025 events! 🌟

• Mongolian Investment Week: New York

  April 28-29, 2025 | 📍 New York City

• Mining Week & MinePro 2025

  September 11-13, 2025 | 📍 Ulaanbaatar

• Mongolia Investment Forum: Singapore 2025

  November 2025 | 📍 Singapore

Join us to explore Mongolia’s capital market and mining opportunities with us!

🟣 CMM Client News

“Moody’s Ratings” upgraded Golomt Bank’s credit rating and US$300 million bond issuer rating to ‘B2’ with a stable outlook.

🌱 CMM Guide: Green Finance

🌱 The New CMM Guide is Out! This edition highlights the theme of "Green Finance."

It provides comprehensive insights into the significance of green finance, available financing opportunities, green loans, and the issuance of green bonds. A must-read for anyone interested in sustainable finance!

🗞️ Distribution:

Copies will be distributed during the Sustainable Finance Forum Mongolia 2024.

🏛️ Market News

• Tenger Insurance, one of the leading companies in the insurance sector, has launched its IPO.

  • Price per share: ₮800

  • Amount to be raised: ₮10 billion

  • Total offered shares: 21%

• Ulaanbaatar has issued USD 500 million in bonds on the international market with a 7.75% interest rate. The funds will be used to build a residential complex of 12,000 housing units in the Selbe subcenter area.

• A total of 43,750 shares of Invescore NBFI [MSE: INV] were traded in a block trade, valued at ₮350 million. Since the release of the Q2 financial report on the Mongolian Stock Exchange, a total of ₮21 billion worth of shares have been traded. During this period, the stock price has increased by 18%, reaching ₮8,370.

• A total of 5,000,000 shares of Premium Nexus [MSE: CUMN] were traded in a block trade, valued at ₮1.1 billion.

• A total of 285,000 shares of APU [MSE: APU] were traded in a block trade, valued at ₮300 million.

🟣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.