In regard with launching of initial market order of “Erdenes Tavantolgoi” JSC's ETT bond, a bell ringing ceremony took place at Mongolian Stock Exchange on March 30, 2021. In the case of ETT bonds, the Financial Regulatory Commission (FRC) issued Resolution No. 96 of March 26, 2021, on “Securities Registration” and Resolution No. 1/1181 of March 29, 2021, on “Primary Market Trading”.
The ETT bond is part of the “MNT 10 trillion Comprehensive Plan for Economic Recovery” implemented by Government of Mongolia and supported by the government, the Ministry of Mining and Heavy Industry, and the Bank of Mongolia to attract investment by offering securities to the public. The bond is also the first to be issued on the domestic stock exchange in foreign currency, the US dollar, and it has the advantage of preventing currency depreciation.
The implementation of major national developments such as the Tavan Tolgoi Thermal Power Plant, Coal Processing plan, Water Supply Plant, and Railway projects will be financed with bonds. As a result of the above developments, the company's efficiency will increase significantly and it is planned to reach a total net profit of 11.5 trillion MNT by 2025.
By investing in this bond, individuals and businesses will have an opportunity for positive impact on the Mongolian stock market, increase their capital at a steady rate, and contribute to the financing of major development projects for the benefit of the country. As for the transparent and trusted company, who are running stable and profitable operations and promising relatively higher interest rates than bank, we are offering debt instruments to the public in three phases.
The primary market trading orders will start on March 30, 2021 and close on April 2, 2021, and can be purchased by foreign and domestic citizens, companies, commercial banks, insurance companies and investment funds. The orders will be received through MSE member brokerage companies.
