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Cooperation agreement signed with underwriters to issue Ulaanbaatar city bonds www.gogo.mn
The city of Ulaanbaatar has received permission from the Ministry of Finance, the Bank of Mongolia, and the Financial Regulatory Commission to issue bonds worth up to MNT 500 billion in the domestic market. Specifically, the Law on the Legal Status of the Capital City was revised and approved in 2021, and the city of Ulaanbaatar has the right to issue bonds in the financial market. In this way, Ulaanbaatar is able to follow the standards of major cities in the world and use more efficient means of financing to decide on major infrastructure investments and to work independently financially.
In the process of releasing Ulaanbaatar city bonds to the financial market, the lead underwriter will be “BDSec UtsK” JSC, and the sub-underwriters will be “TDB Securities UTsK” LLC and “Golomt Capital UTsK” LLC. In this context, the Governor's Office of the Capital city signed a cooperation agreement with the leading underwriters and sub-underwriters.
The leading underwriter "BDSec UTsK" JSC is a leading securities company in the industry, which has been continuously operating for 31 years since the beginning of the stock market relations in Mongolia. In 2006, the company became a public company through an IPO on the Mongolian Stock Exchange, and in 2021, it was selected as the "Best Broker" and "Best Investment Bank" of Mongolia. www.bdsec.mn
The sub-underwriter "Golomt Capital UTsK" LLC was founded in 2011, and is one of the market leaders, having performed 40% of all IPO and FPO underwriting services announced in the Mongolian market in the last five years. www.golomtcapital.com
Sub-underwriter “TDB Securities UTsK” LLC served as the domestic advisor for Chinggis Bond, which was issued for the first time in the international market by the Government of Mongolia. Since then, the company has attracted a total of 3.8 billion dollars of investment from foreign markets and has rich experience in international markets. Most recently, they offered US government bonds (Treasury Bill) to investors for the first time in Mongolia. www.tdbsecurities.mn
The leading underwriter, who will provide professional services as an intermediary and guarantor in the public offering of Ulaanbaatar bonds, was selected by the Procurement Department of the Capital city on the order of the Governor’s Office of the Capital city.
MEDIA AND PUBLIC RELATIONS DEPARTMENT OF THE GOVERNOR’S OFFICE OF THE CAPITAL CITY
Published Date:2023-09-06
