Ard Financial Group JSC has purchased AltanHoromsog brokerage company registered on the Mongolian Stock Exchange (MSE); one of the first brokerage companies, which is running stable for 25 years since its establishment, and AltanHoromsog is merging with Ard Securities Brokerage Company, 100 percent of its stake owned by Ard Financial Group JSC.
In the past 25 years AltanHoromsog Brokerage Company opened a total of 33,500 client accounts, executed the transaction of 11 million shares and MNT350 million worth of dividends from 120 public companies to the clients. Currently, the clients of this company are holding shares worth MNT6.9 billion of 25 high value of its public companies that are traded on the MSE. By doing so, the company executed stocks and bonds of MNT1.6 billion in 2015 on behalf of its customers, and this performance implies that the company is still the vital player in the securities market. Since its establishment, AltanHoromsog Brokerage Company mainly focused its operation on brokerage and dealer service, while keeping the operation stability without changing the company name and the shareholder structure.
Currently, Ard Securities Brokerage Company opened accounts for over 12,500 clients, and accomplished successfully to gather investments of total MNT81.7 billion to the companies of construction, infrastructure, finance, tourism, and manufacturing industries. Also, in the first quarter of 2016, transaction of MNT12.5 billion was transacted by Ard Securities, and this performance makes Ard Securities a fourth best brokerage company by its activity out of 58 brokerage companies.
As a result of this merger, number of clients in Ard Securities Brokerage Company will surge to around 46,000, and this deal becomes one of the biggest steps to provide services to the greater number of clients in the stock market.
CEO of Ard Financial Group, Gankhuyag Ch. said “Purchasing one of the oldest brokerage companies in the Mongolian stock market, AltanHoromsog Brokerage Company, and its merger with Ard Securities Brokerage Company is the event that will definitely be marked as one of the historic events in the stock market history”. After the statement, he expressed his appreciation, and wished success for Monkhor T. who is founder of AltanHoromsog.
During this event, former executive director of AltanHoromsog, Monkhor T. pointed out “While I appreciate all the customers, clients, partners, and entities that have worked together during the past 25 years, I deeply believe that all the clients will continue to work together with Ard Securities Brokerage Company, and Ard Financial Group”.
Ard Financial Group is the national financial holding company that aims to increase its shareholders value by investing in the companies of financial industry as increasing the market shares and competitions ability of shareholding companies. Our holding companies are Ard Insurance, Ard Credit, Ard Securities, Ard Active, Ard Management, and Equity Investment Trust (EIT). In the beginning of 2016, we have successfully participated in the stock trade of Mongol Post Company, and successfully acquired 17.38% of the company from the MSE. Investor Nation is also the marketing brand that is registered as the holding company of Ard Holdings.
Address: Ard Financial Group building, street of Prime Minister Amar, Sukhbaatar District, 8thkhoroo, Ulaanbaatar city, Mongolia
General Information: 7707-8080
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