Edited by ITOFO.J

The Foreign Investment and Foreign Trade Agency of Mongolia in conjunction with Hong Kong Exchanges and Clearing, Mongolian State Property Committee, Mongolian Stock Exchange will organize a “Forum on Hong Kong Listing of Mongolian Enterprises” in Hong Kong, China, April 12.

During the forum, Mongolian Ministerial level officials will speak about Mongolia’s governmental policies and attractive investment opportunities to the biggest investors from Hong Kong and the world. The Hong Kong Exchanges and Clearing will introduce rules and regulations of IPO in Hong Kong stock market, common issues facing international companies in listing procedures, sectors suitable for listing in Hong Kong, to Mongolian delegates.

The forums comes in preparation of Mongolia’s intention to list its state-owned companies controlling the country’s gold, copper, and coal reserves on international stock exchanges this year. The Government has been given the approval by the Parliament to start preparation for selling the shares by international investment banks to global investors on the MSE first, then on international stock exchange.

Mr. D. Batbold believes the sale of state-owned major companies has the potential to transform the country’s economy, adding it will answer both the demand and the necessity for Mongolia to make the best use of its resources.

As much as USUSD3 billion in three years could be raised selling equity stakes in resource companies, believes Alisher Djumanov, Euroasia Capital Management’s Beijing based chief executive officer.

All together, Mongolia is currently seeking USUSD25 billion in foreign investment over the next five year to develop metal and coal resources; the development of the Tavan Tolgoi project which is included in the list has been estimated by the Government at USUSD2 million over the next five years.

Nevertheless, the decision has angered certain officials. President of the Confederation of Mongolian Trade Unions (CMTU) and Labour leader S. Ganbaatar said about investing mining revenues in international securities that it was “gambling... particularly when Mongolia do not have a single expert... who really knows about investing and trading in securities.”

Эх сурвалж Өдрийн шуудан сонин