Ard Credit spends MNT 4.75 billion on lending www.zgm.mn
Ard Credit NBFI JSC reported monthly spending of MNT 5.2 billion raised from the public investment in March. According to the report, 90 percent or MNT 4.75 billion of total investment income were spent on lending, while the remaining 10 percent was spent on additional fees, marketing, and printing expenses.
Loans worth MNT 4.2 billion or 79 percent of IPO incomes were allocated to individuals and MNT 565 million or 10.7 percent were other types of loans.
The company’s share price closed at 67.94 MNT which is down 16 percent from the publicly offered price. Under the subscription, it was allotted to investors at MNT 81.