‘Ard Insurance’ JSC, the 6th new issue listed on MSE in 2018 as well as the first insurance IPO, is offering its 30 percent or 7.5 billion shares of total outstanding shares to the public for MNT 700 per share or total of MNT 5.4 billion.

The proceeds will be used to improve its risk management capabilities by increasing the owner’s equity as well as invest in the capital market in accordance with the FRC rules.

In case of oversubscription for the stock, shares will be allocated on a pro-rata basis.

Subscription for the stock will be open during the period between 17th September 2018 to 2:00 pm, 26th September, 2018.

Click here to view the prospectus of the IPO.

Source: Mongolian Stock Exchange