Delphos served as the exclusive financial advisor to Bogd Bank to secure a commitment from the U.S. International Development Finance Corporation (DFC)
2021-02-04 14:25:27
Ulaanbaatar /MONTSAME/. Bogd Bank, the youngest bank in Mongolia’s banking industry, has announced that it would launch an initial public offering and list 20 percent of its shares on the Mongolian Stock Exchange to raise funds from public.
In compliance with recent amendments to the Banking Law of Mongolia, approved on January 28, 2021, which obliges some commercial banks to become available for public trading prior to June 30, 2022, and all commercial banks to reduce its ownership concentration before December 31, 2023, the Bogd Bank now becomes the first bank to trade its shares on the stock exchange and transition from private to public.