by

Introduction

Ard Financial Group is a diversified financial services holding company with an aim of increasing its shareholders’ value through investing in and developing leading financial services companies. Our investment portfolio consists of companies such as Ard Insurance, Ard Credit, Ard Securities, Ard Life, Ard Assets, Ard Management, Ard Bit, TenGer Systems, Mongol Post, GoPay, Nomyn Hishig, CryptoNation, Digital Exchange Mongolia (trade.mn), and MEC partners (ardshop.mn). Investor Nation, after RTO with Jinst Uvs (MSE:JIV), is a MSE traded public company and a registered trademark of the Group. Ard App, Ard Digital Banking, GoPay, ArdCoin are proprietary digital products based on artificial intelligence and blockchain technology. 


Mission

Optimize investment returns by maintaining a balanced view on profits and risks.

Vision

We will strive to become an approved financial services group with a proprietary technology in the region


History

In 2000 the United Nations Development Program, and a US non-government organization Mercy Corps made a decision to donate MNT600 million to the employee investment trust fund of XacBank.

Employees of XacBank exchanged their shares for the shares of XAC-GE, a parent company of XacBank, to unify their voice in the management of the Company.

XAC-GE then was then renamed TenGer Financial Group and expanded to become a group of companies that provide financial services.

Ard Financial Group was established at the initiative of XacBank’s founder as “Employee Investment Trust” or EIT in September of 2005 and became the foundation of the first institutional investor in Mongolia.

EIT started with MNT1.2 million and 10 shareholders in 2005. By the end of 2015, the Company has MNT35.6 billion in assets and over 600 shareholders.

In 2013 we formulated our strategy and decided to operate under the Ard Financial Group name.

Following our new vision to build Ard Holdings we made investments in Ard Credit, Ard Insurance, consolidated operations of Ard Securities and established Ard Assets and Ard Management.

We believe that people should own the assets they help build. We believe that people should own their own banking systems. And as such Ard Financial Group tirelessly pursues a goal to trade publicly. We changed our legal status to a Closed Joint Stock Company by the end of 2015 in this quest.

  • December 21 – 10,000 shares valued at MNT10,000,000 was issued from the Employee Investment Fund.  
  • October 25 – The inaugural meeting of the Board of Directors was held with Delgerjargal B., Batbold A., Tuul B., Tsogbadrah G., and Enhsaihan N. as members, B.Delgerjargal was named as chairman of the Board.
  • A new policy for granting shares to employees was approved.
  • January 6 – Amarbayasgalan D. was named CEO.
  • By the end of 2006, the company had issued 477,857 shares to 242 shareholders.
  • February 21 –  Introduced pension fund services and effectively managed pension funds of XacBank and TenGer Financial Group employees, this was the first service of its kind in Mongolia.  
  • May 1 – Soronzonbold L. was named CEO.
  • June 13 – By decision of the Board, a company aimed at IT solutions, software development, education and services under the name TenGer Systems was established with 100 percent funding
  • August 30 – Ganbat B. was named CEO.
  • September 26  – The company bought a stake in the Institute of Engineering and Technology, holding 28 percent of the institute.  
  • October 19 – Stroke a partnership with BSP LLC, a construction company.
  • December 18 – Acquired 50 percent of “Prime General Insurance” LLC, started a partnership with Petrovis LLC.
  • December 25 – Bought 500 square meters of land in Dornod aimag for the purposes of commercial use.
  • By December 31 the company owned 12 percent of XAC-GE LLC, 35 percent of Grassroots LLC, 50 percent of  AgZam Xact LLC, 28 percent of IET, and 100 percent of TenGer Systems.
  • January 6 – Participated as the main sponsor for School Number 11 in the annual football competition, organized by XacBank since 2006, “Duilaan 2020.” .
  • July 9 – Successfully held a regular shareholders meeting, where 35 shareholders in total had a 52 percent ownership stake in the company reviewed and approved the company’s operational and financial reports.
  • July 24 – EIT LLC decided to create a new entity EIT Capital Management (ECM) to hold TenGer Financial Group shares. The new company aims to attract foreign investors and raise funds to acquire more ownership at TenGer Financial Group.
  • July 24 – Established ECM LLC and increased the value of EIT LLC.
  • December 19 – the Board approved the company’s investment and funding management policy.
  • March 11 – Ganhuyag Ch., Batbold A., and Tur-Od L. were appointed as Board members.
  • March 11 – Daurenbik S., Munhsaihan J., Zul G., and Ouyngerel B. were appointed as Supervisory Board members.
  • April 17 – an Internal audit division was established under the Board, with Tur-Od L. as head of the division and Daurenbik S., Erdenebayar G. as members.
  • October 26 – Acquired Monet Capital LLC, a broker, dealer, underwriter and investment banking company.
  • May 27 – With 100 percent funding from EIT LLC, a company focusing on pension fund services called MNTD was established and all pension accounts were transferred to this new fund.  
  • March 17 – Sold its ownership of Prime General Insurance LLC to TFG.
  • July 5 – With 100 percent funding from EIT LLC established a new subsidiary, Arvai Capital LLC. The new entity aims to provide investment consulting, stock market information, financial education and business consulting services.
  • July 30 – Bought 170,44 square meters of office space at Citi Center, located in the 8th horoo of Suhbaatar district.
  • December 1 – Acquired an additional 12 percent ownership at IET, making the total ownership 40 percent.
  • January 24 – Acquired shares in EIT Capital Management LLC from the Blue Orchard Equity Fund.
  • The company was constantly increasing its ownership at TFG through ECM LLC, and on March 30 we bought ECM shares from Ronoc.
  • March 1 – At its plenary meeting, the Board made a decision to acquire shares of Namsrai Assets LLC.
  • March 30 – Brought in MAK, Monnis, and MCS Holding LLC as investors in ECM LLC.
  • April 20 – Acquired an additional 10 percent ownership at IET, bringing the total ownership to 50 percent.
  • September 16 – Batbold A. was appointed as CEO by the decision of the Board.
  • December 25 – Exchanged shares of EIT LLC for Monet Capital LLC, thus gained 100 ownership of Monet Capital LLC.
  • December 26 – Per the decision of the plenary Board meeting acquired 20 percent of Nomyn Hishig LLC.
  • April 28 – Added one of the largest companies in Mongolia, MAK LLC as a strategic investor.
  • June 29 – MCS Holding LLC joined as an investor.
  • September 7 – Per the decision of the plenary Board meeting Sergelen M. was removed from the office of Chairman and Ganhuyag Ch. stepped in as the new chairman.
  • December 6 – Luna and Luna LLC became an investor.
  • December 17 – UBIG LLC and Ronoc Limited exchanged their shares at Monet Capital LLC for EIT LLC  shares and became two of our largest investors.
  • December 26 – After a shift in strategy, the company decided to sell 50 percent of its holdings at Namsrai Assets SCC and I Concept LLC back to their respective managements, and the relevant negotiations were finalized.  
  • April 23 – Gained control over Trasco SCC and steadied its operations.
  • April 10 – Oyungerel J. joined as a member of the Board.
  • June 30 – Shares of MAK LLC and Ronoc Limited at ECM were separated and directly offered shares of TenGer FInancial group instead.
  • July 16 – TenGer Systems LLC received licensing for Right Banker banking administration software. and started to work on introducing savings and credit cooperative services in rural areas, and expand the company’s operations.
  • August 1 – Per the Board meeting decided to sell the EIT Capital Management shares owned by MTND LLC to Mongolian Financial Services LLC.
  • October 4 – Gereltuya S. was named as a member of the Board.
  • October 24 – Sold 27,57 percent of ECM LLC or 1,214,357 shares tp Mongolian Financial Services LLC.
  • October 31 – Transferred a total of MNT3.5 billion in TFG’s 2000 employees’ pension funds back to TFG from MTND LLC’s accumulated Pension fund.
  • October 31  – Apollo Ventures LLC joins as an influential investor.
  • December 19 – Reached a decision to dissolve EIT Capital Management LLC.
  • December 26 – During the shareholders meeting, the company’s resolution to purchase 33.0 ownership at Ard Insurance LLC and 50 percent ownership at Ard Credit LLC and change its legal name to Ard Financial Group was approved.
  • December 27 –  EIT changed its strategy and branding, becoming Ard Financial Group, and invested in Ard Insurance and Ard Credit.
  • January 8 – The Board chose BDO Audit LLC as the company’s main auditor.
  • January 9 – Signed a partnership with Wild Digital LLC: IT, marketing and advertising responsibilities were handed to this company.
  • February 10 – Trasco SCC changed its legal name to Ard Assets SCC, EIT LLC joined as a member of the cooperative. 
  • March 31 –  An investment committee, Rewards, bonus, governance and election committee, Risk and finance committee and Internal audit committee were established under the Board.
  • April 5 –  Sponsored athlete Mr. Lhagvadorj won a bronze medal in the Ulaanbaatar City Bodybuilding competition in the 65-kilogram weight division.
  • April 11 – Sponsored athlete Mr.  Sodnompeljee E. successfully participated in the World Powerlifting Championship held in Dubai and earned a spot to compete in the 2016 Olympics.
  • April 28 – A representative of Inter Group Batbayar P., a representative for MAK LLC Telmen T. and a representative for UBIG LLC Javzmaa L. joined as Board members.
  • April 28 – Organized shareholders meeting, where the company reviewed its 2013 operations and approved the 2013 financial report.
  • January 14 – Plenary Board meeting of Ard Financial Group was held.
  • January 27 – The Financial Regulatory Committee approves a legal name change from Monet Capital LLC to Ard Securities, a subsidiary of Ard Financial Group.
  • January 31 – Ard Financial Group employees worked at Batsumber soum in Tuv aimag,
  • January – Supported Mongolian para powerlifting athlete Mr. Sodnompeljee to compete in the Asian championship held in Incheon, South Korea.
  • February – Ard Financial Group moved its headquarters to a new location.
  • March 23 – Acquired Jinst-Uvs, a listed company at MSE, for reverse-takeover.
  • February 27 –  Assisted to get rights to air “Spirit of the Wolf,” a feature-length film starring Mongolian actor Anhnyam R. Sponsored the opening in Mongolia.
  • April 2-3 – Worked as a sponsor for the 5th Mongolian Economic Forum.
  • May 1 – Held shareholders meeting for Ard Financial Group.
  • May – Ulaanbaatar city Trade was established, CEO Ganhuyag was named as a Board member.
  • May – Sponsored Porsche World Roadshow in Mongolia event in cooperation with Ard Insurance LLC.
  • May – Ard employees participated in  “Duulian 2015” amateur football championship.
  • June – Founder and chairman of Advek fund from Switzerland, Mr. Bruno Raschle has become an investor in Ard Financial Group.
  • June 10 – Our employees participated in the “Friendly UB” public marathon.
  • June – Gifted Children’s day presents to the students of school 29.
  • July – Sponsored “BCM 2015” football competition.
  • July 9  – Sponsored “Husugtun” bands show at Choijin Temple Museum.
  • August 11 – Shareholder Bruno Raschle has been named to the BoD of Ard Financial Group.
  • August 18 – Supported Javzmaa O. to participate in the 2015 Judo World Championship.
  • September 2-5 – CEO Ganhuyag participated in the “G1 Summit” held in Japan, as a panelist.
  • September 10 –  Opened a coworking space called “Ard Business Center” at Ard Holdings headquarters to provide workspace and management support for start-ups
  • October 2-5 – Held Western Region Microfinance Forum in Bayan-Ulgii aimag in conjunction with ARMD.
  • October 10 – Ard Financial Group joined “MNT1000” charity campaign  
  • October 23 – CEO of Ard Financial Group, Mr. Ganhuyag gifted a Mongolian ger to the students of “Russian-Mongolian joint school number 3,” and facilitated a discussion about dignity.
  • November 7 – 15 members of Ard Financial Group’s management team participated in a course on corporate governance and received certificates.  
  • November 11 – CEO of Oyu Tolgoi JSC Andrew Woodley visited IET, a school with investment from Ard Financial Group.
  • November 23 – Ard Financial Group becomes a closed joint stock company.
  • November 30 – Held plenary Board meeting, handed out certificates to shareholders.
  • December 3 –  Signed a cooperation agreement with the Mongolian Central Securities Depository.
  • December 6 – Organized an event to showcase Ard Financial Group’s products and services at Tengis movie theatre. All subsidiary companies participated.
  • December 10 – Helped Mongolian Para-Ski team athlete Ganbold B. in his preparation for the World Paralympics and supported his participation.
  • December 19 – Sponsored famous Buriad actor Ariunbaatar G.’s concert.  
  • January – USD 6.2 million for 4.26 percent of TenGer Financial Group arrived on our accounts. The prevailing exchange rate at the time was MNT1,995 per USD. Ard Holdings took part in the privatization of Mongol Post, where the company acquired 17.38 percent of the company for MNT3.3 billion on the Mongolian Stock Exchange. At the time of the privatization, the share price was MNT185, however, at the beginning of December, the share price reached MNT340. Investor Nation LLC was established on January 9th, 2019 by the initiative of 560 people. Furthermore, this was the first company to use crowdfunding In Mongolia, the purpose of the company was to establish a publicly owned bank through crowdfunding.   
  • February – Ard Management was licensed to conduct fund management activities. 
  • May – Ard Holdings acquired an additional 30 percent of Ard Insurance from minority shareholders, bringing its holding in the insurance company to 85 percent, of which 2 percent is owned by Investor Nation.  
  • June – Ard Financial group acquired Altan Horomsog securities company, listed on the MSE, continuously operating for 25 years since 1991, and one the first securities companies in Mongolia. 
  • September – Ard Holdings acquired an additional 13.01 percent of Mongol Post from Bathishig H. in a combination of cash and stock deals. At the end of the year, our combined ownership is 31 percent of Mongol Post. Mr. Bathishig became the single largest shareholder of Ard Holdings as a result of this transaction, with 11.99 percent ownership.
  • December – Mr. Bruno Raschle invested an additional MNT1.5 billion in the Company. Ard Financial Group held its BoD meeting on December 3rd, at which a decision to issue MNT2 billion in bonds was reached. We managed to bring the number of our shareholders to 3,000 by year-end, a tenfold increase, which makes one in 1,000 Mongolians Ard shareholderв.  Ard Holdings injected MNT1 billion into Ard Credit and, at the same time, acquired 12.7 percent from a minority shareholder, bringing its stake in the lender to 80.7 percent. Ard Holdings spans out pension services from Ard Assets to stand-alone pension services provider Ard Life, formerly MTND
  • Ard Holdings sold its 50 percent shareholding at the Institute of Engineering and Technology for MNT9.8 billion. The deal involves shares and real estate swaps combined with long-term financing facilities
  • Ard Holdings sponsored a landmark USD600,000 bond issuance by Hunnu Air underwritten and arranged by Ard Securities.
  • TenGer Systems became the official agent in Mongolia, of the British addressing company What3Words.
  • January 5 – Ard Credit NBFI became the first NBFI in Mongolia to issue credit cards.  
  • January 9 –  Investor Nation JSC reaches 1 year anniversary.
  • January 1 –   Ard Academy started holding weekly ‘Investment courses.’
  • February –  Ard Holdings delivers its annual report and information about its stock to all its shareholders via Mongol Post.
  • February 9 –  Ard Holdings injected MNT1.5 billion in Ard Securities to enable it to maintain its brokerage, underwriting and dealer licenses on top of its investment banking services.
  • February Ard Holdings placed a bond worth MNT2 billion and successfully sold it in a closed capacity.
  • February 13 –  Ard Holdings hosts a press conference on the issues surrounding Erdenes Tavan Tolgoi.
  • March 31 – As part of its social responsibility initiative, Ard Holdings became the sponsor of the Etugen Panthers, the top team in the Mongolian Basketball Association’s Nissan League.
  • April 21 – Ard Academy published the “My First Investment” book.
  • April 22 – Successfully hosted the largest event of the year – Investor Nation Forum, with the participation of the Government, the general public, and the business community.
  • April 23 – Ard Financial Group successfully hosted its Annual Shareholders Meeting. During the meeting, Oyungerel J, Ganhuyag Ch, Bathishig H, Bruno Raschle, Anthony Hobrow, Ariuntugs Ts, Batbayar P, Soronzonbold L, Odbayar O, were re-elected as regular and independent members, CEO of Mongol TV Nomin Ch, and CEO of Monpolymet Group Munhnasan N, were newly joined as board members.  
  • May 2 – Mr. Tsogbadrakh was named as Chief Executive Officer of Ard Insurance.
  • May 11 – To increase its current assets and loan portfolio, Ard Credit NBFI issued a two-year bond valued at MNT2 billion.
  • May 13  Opened the first full-service branch in Shangri-La Mall.
  • August  Mr. Batbayar was named as Chairman of the Board..
  • August 8 – The Board approved MAK LLC’s decision to sell its 6 percent ownership at Ard Holdings for MNT2.1 billion.
  • August 11 – During the plenary Board meeting the IPO of Ard Credit NBFI was discussed and finalized, permission to launch an IPO was granted.
  • August 15 – The Mongolian Stock Exchange reviewed and approved the merger between Jinst Uvs public JSC and Investor Nation SC.
  • September 14 – Ard Financial Group issued a two-year bond worth USD1 million.
  • September 18 –  Announced a Bitcoin and cryptocurrency lottery campaign among shareholders.
  • September 10  Ard Insurance’s total assets reached MNT10 billion.
  • October 2 – Founded Ard Bit, a company focused on cryptocurrency,  and in cooperation with Xapo.com started Bitcoin trading.  
  • October 18 – Ard Securities Brokerage Firm successfully raised MNT350 million for NAP LLC, an urban planning and construction company.
  • October 20 – The total assets of Ard Assets SCC reached MNT1 billion.
  • October 25 – Worked as the main sponsor for the poet-writer Mr. Gurbazar’s play.
  • November 1  Ard Academy published a book on cryptocurrency, bitcoin, and blockchain technology called ‘Digital Gold’.
  • November 15 – Ard Credit’s total equity reaches MNT10 billion.
  • November 24 –Investor Nation LLC was recognized as a publicly traded company upon the Merger with Jinst Uvs JSC; this was the first successful reverse takeover in Mongolia. The 2017 closing stock price stood at MNT1.858.
  • November 24 – Ard Financial Group with the permission of the FRC bought an additional 10,27 percent ownership in Ard Insurance LLC.
  • November 27 – Ard Financial Group appointed Mr. Tenuun as Chief Digital Officer.
  • November 30 – During the plenary Board meeting the IPO of Ard Insurance on the MSE was approved by Ard Holdings. 
  • November 30  During the plenary Board meeting the decision to re-invest in IET, for approximately 12 percent ownership. was reached.
  • November 30  Ard Financial Group reached a decision to make MNT100 million investment in Ard Bit LLC.
  • December 1 and 2  Investor Nation Forum was successfully held for the second year, under the name CryptoNation, over 1200 people participated in the event which was held at the Ministry of Foreign Affairs Building as well as Corporate Convention Center..
  • December 2  Ard Holdings signed a strategic cooperation agreement with the leading banking and financial systems software provider Grapecity and Most Money.
  • December – Ard Securities Brokerage FIrm worked as the sponsor of ‘Nogoon sum,’ a reality show about the stock market, which aired on the MNB network.
  • December 9 – Established Crypto Nation, a company aimed at creating Mongolia’s first cryptocurrency fund.
  • December 15  Investor Nation and Jinst Uvs JSC shares were traded on the Mongolian Stock Exchange for the first time.
  • February – Ard Management was licensed to conduct fund management activities.
  • May – Ard Holdings acquired an additional 30 percent of Ard Insurance from minority shareholders, bringing its holding in the insurance company to 85 percent, of which 2 percent is owned by Investor Nation.  
  • June – Ard Financial group acquired Altan Horomsog securities company, listed on the MSE, continuously operating for 25 years since 1991, and one the first securities companies in Mongolia. 
  • September – Ard Holdings acquired an additional 13.01 percent of Mongol Post from Bathishig H. in a combination of cash and stock deals. At the end of the year, our combined ownership is 31 percent of Mongol Post. Mr. Bathishig became the single largest shareholder of Ard Holdings as a result of this transaction, with 11.99 percent ownership.
  • December – Mr. Bruno Raschle invested an additional MNT1.5 billion in the Company. Ard Financial Group held its BoD meeting on December 3rd, at which a decision to issue MNT2 billion in bonds was reached. We managed to bring the number of our shareholders to 3,000 by year-end, a tenfold increase, which makes one in 1,000 Mongolians Ard shareholderв.  Ard Holdings injected MNT1 billion into Ard Credit and, at the same time, acquired 12.7 percent from a minority shareholder, bringing its stake in the lender to 80.7 percent. Ard Holdings spans out pension services from Ard Assets to stand-alone pension services provider Ard Life, formerly MTND
  • Ard Holdings sold its 50 percent shareholding at the Institute of Engineering and Technology for MNT9.8 billion. The deal involves shares and real estate swaps combined with long-term financing facilities
  • Ard Holdings sponsored a landmark USD600,000 bond issuance by Hunnu Air underwritten and arranged by Ard Securities.
  • TenGer Systems became the official agent in Mongolia, of the British addressing company What3Words.
  • January 9 – Crypto Nation SPC held its Board of Directors meeting, during which the company approved its management structure and made its investment decisions.
  • April 2  Ard Insurance allocates dividends for a second straight year.
  • April 2  Crypto Nation allocates Q1 dividends.
  • April 4  Ard Credit NBFI decides to allocate dividends to its investors.
  • April 17  Ard Credit fully connected to Polaris, the core banking system.
  • April 27  During the annual shareholders meeting, a decision to merge Ard Financial Group with Jinst Uvs was reached.
  • April 27  Ard Life Company decided to allocate profits to investment account holders.
  • April 28  Ard Credit NBFI has introduced a new loan product that uses securities as collateral.
  • April 28  Launched the first version of Ard App.
  • April 28  GoPay introduces a new loan product, which uses Bitcoin as collateral.
  • May 2  Ard Securities brokerage firm has successfully raised financing for Netcapital financial corporation NBFI.
  • June 7  Ard Holdings made changes to its BoD structure.
  • June 8  Investor Nation was dissolved.
  • June 13  Ard Life introduced Polaris, the core banking system.
  • June 13  Ard Life’s personal pension fund clients reached 1,000.
  • July 3  GoLend offers the first ever loan that uses Bitcoin as collateral.
  • June 29  Opening ceremony for a joint branch of Ard Holdings and Mongol Post was held.
  • June 3  Ard Holdings and Bitmed LLC are partnering to introduce an online health service in Central Asia.
  • July 3  Ard Securities brokerage firm and Mini Credit LLC have signed a cooperation deal.
  • July 19  Ard Holdings is going to sponsor the Mongolian Rugby National Team.
  • July 19  Ard Holdings and Digital Exchange Mongolia made a strategic partnership agreement.
  • August 29  The FRC approved the IPO of Ard Insurance.
  • September 26  Ard Insurance’s IPO was successfully completed and the company received orders for MNT7 billion.
  • October 9  Ard Holdings, Mongol Post and MEC Partners are partnering to help lift the E-Commerce industry in Mongolia.
  • December 1   Ard shareholders can now request interest-free loans.
  • December 1   Successfully organized Ard Fair, Ard Shop presented its operations to the public for the first time.
  • December 1  Ard Insurance JSC organized a non-plenary shareholders meeting.
  • December 8 and 9  Ard Credit NBFI held a fair with zero interest, collateral-free loans.
  • December 27   The Mongolian Stock Exchange approved the merger between Jinst Uvs and Ard Financial Group.
  • December 31  Ard Insurance JSC’s shareholders reached 1,649.
  • January 1 –Ard Insurance JSC’s stock was named into MSE’s TOP-20 index
  • January 9 – At their regular meeting, the FRC approved the IPO of Ard Credit NBFI on the Mongolian Stock Exchange and its legal status change to a public company.
  • January 15 – Ard Bit issued first ArdCoin on the ERC20 platform
  • January 19  Investor Nation Forum was held for the 3rd straight year.
  • January 19  Introduced a new version of Ard App
  • January 23  Mr. Zolboo was named as Chief Financial Officer at Ard Financial Group.
  • February 18  Ard Credit NBFI launches its IPO.
  • February 19  Ard Insurance JSC decided to allocate 50 percent of its 2018 net profits to its shareholders as dividends.
  • February 19  Ard Credit NBFI signed a partnership with the Japanese company Crowd Credit Fund, raising USD5 million from the Japanese market.  
  • March 1  Ard Credit’s IPO (MSE: ADB) is 3 times oversubscribed.
  • March 12  Secondary market trading for Ard Credit NBFI JSC commenced.
  • March 26 – Mongol Post relaunched its transit services between the PRC and Russia.
  • April 5 – Users are able to open their investment accounts directly from Ard App.
  • April 8 – ArdCoin local listing on Trade.mn, Mongolia’s first and only cryptocurrency exchange platform.
  • April 17 – First ArdX/USD and ArdX/BTC exchanges were successfully made on Trade.mn.
  • April 27 Shareholder meetings for Ard Financial Group, Ard Insurance, Ard Credit, and Jinst Uvs were successfully organized.
  • May 8  The Financial Regulatory Committee of Mongolia reviewed and approved this application for RTO on May 8, 2019, enabling Ard Holdings’ shares to be traded at the Mongolian Stock Exchange.
  • June 21 – Ard App users reached 200,000, Ard Credit customers reached 100,000.
  • July 8 – The Financial Regulatory Committee approved the establishment of the “National Privatization Fund” by Ard Management
  • July 23 – Enabled shoppers to directly order products from overseas via Ardshop.mn.
  • July 25  Established Ard Bit Global Ltd in Singapore.
  • August 8 – Ard Financial Group becomes a publicly-traded company listed on the Mongolian Stock Exchange (MSE: AARD). Ard Financial Group, Ard Credit and Ard Insurance presented their 2019 first half-year financial and operational reports.
  • August 9 – Hosted an event commemorating the public listing of Ard Financial Group.
  • August 9 – Ard Financial Group and Zip Taxi LLC signed a partnership agreement.
  • August 22 – ArdCoin is to be listed on the BTCEXA Exchange, Australia’s regulated crypto exchange platform.