Information Center for 1072 shares opens
An 'Information Center for 1072 Shares' was opened today in the building of Erdenes Tavan Tolgoi (ETT) JSC and it enables citizens to get full information about 1072 shares such as how to trade their shares, shares’ price and brokerage companies.
ETT Company projected to make sale worth MNT1.2 trillion in 2018 and now it extracted 2.9 million tons of coal, selling 5.1 million tons, and earning MNT710 billion revenue. If the sale goes constantly at this pace, the company is possible to make MNT1.5 trillion sale at the end of 2018. Then, the company's net profit would reach MNT 700 billion this year.
CEO of ETT JSC B.Gankhuyag underlined during the opening that the Company plans to be registered in the Mongolian Stock Exchange in September this year and to start distributing dividends beginning from 2019. Last week, we agreed with CHALCO Trading Hong Kong Co Limited to sell coal of East Tsankhi mine with USD 60 per ton and the Company raised the price to USD 60.5 today. On the other hand, entities participating in an open tender to sell coal of West Tsankhi mine sent a request to buy one ton of coal at USD 69-69.2. If these works are fulfilled successfully, dividends to citizens will increase more.
According to the relevant government decisions every citizien born before April of 2012 owns 1072 shares of ETT company. Currently, 2.5 million citizens are holding 14.5 percent of total shares of the company.
