Bogd Bank has decided to issue new shares through Mongolian Stock Exchange to attract public investment. It has planned to open up to 20 percent of its total assets and going to become Joint Stock Company. It will be first publicly owned bank after adoption of draft amendments to the Banking Law. ARD Securities, a subsidiary of ARD Financial group, will be main underwriter of the bank shares.
Bogd Bank’s largest shareholder Bodi Capital owns 91.32 percent. Assets of the bank increased fivefold in last four years. In 2015, bank asset was 44.2 billion MNT and in 2019 total assets reached 248.8 billion MNT.
*IPO – Initial Public Offering