Mongolian Market Updates | September 24, 2024

🌅 Good morning,

Fitch Ratings has upgraded Mongolia’s credit rating to 'B+' with a stable outlook, highlighting improvements in fiscal management, economic recovery, and reduced external risks. The upgrade is supported by stronger-than-expected GDP growth, favorable trade conditions, and efforts to strengthen consistent fiscal policies. However, the stable outlook also reflects ongoing risks such as external shocks, commodity price volatility, and vulnerabilities in the banking sector, which could affect long-term prospects.

In this week’s newsletter:

• Invest in Minegolia!

• Mongolia Investment Forum in Singapore

• Market News

• “Mining Week x MinePro 2024” event

🚀 Invest in Minegolia!

On the third day of "Mining Week x MinePro 2024" International Mining Exhibition and Convention, October 4th, the "Invest in Minegolia!" event will be held at CMM Hall.

The event will bring together over 20 foreign investors from 5+ countries with extensive experience in mining finance, as well as over 20 local investors. Six mining companies will pitch their projects to secure investment.

Why attend?

• Pitch projects to both international (from Taiwan Stock Exchange, London Stock Exchange, Sprott Family Office, EY, etc.) and local investors.

• Receive a 10% discount on CMM advisory services.

• Participate in other events held by CMM.

For more info:

✨ Invest in Mining Projects: https://forms.gle/5TyXXuJ4hnHb9FBA8

✨ Pitch Your Mining Projects: https://forms.gle/ZyHcb3n9LTax7zS99

👀 Mongolia Investment Forum in Singapore: Impact Investing

Organized by Capital Markets Mongolia (CMM) in collaboration with the Business Council of Mongolia, the Mongolia Investment Forum will take place on 5 November 2024, in Singapore.

The forum aims to bring together leading investors, policymakers, and business leaders to examine the evolving investment landscape in Mongolia.

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🏦 Market News

• XacBank [MSE: XAC] announced a buyback of 2,300,000 shares at ₮760 per share, with a total value of ₮1.748 billion. Following this, the stock price increased 5% to ₮769 in one day.

• The government decided to convert 1,072 shares into common stock, requiring Erdenes Tavantolgoi JSC to list publicly on the stock exchange.

• Invescore NBFI [MSE: INV] established a subsidiary in Kazakhstan, its second in Central Asia.

• On September 17, a total of 1.7 million shares of Monlogistics Holding [MSE: MLG] were traded in a block trade, valued at ₮305 million.

🔔 Mining Week x MinePro 2024 🔔

🪙 This year, the largest representatives from various sectors, including banking and finance, non-banking financial institutions (NBFI), auditing, legal firms, and consultancy services, are actively participating in Mongolia's biggest mining exhibition and convention. They will provide insights on mining finance and solutions.

🤫 Limited booth spaces available!

Booth reservation: +976 8800 7080

📌 For more information: www.miningweek.mn | www.minepro.mn

🟣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.