Press Release Ulaanbaatar, Mongolia
Investor Nation is pleased to announce that our application for a reverse takeover of Jinst Uvs has been granted an approval by the Financial Regulatory Commission of Mongolia on 24th of November, 2017. This move paves the way for the eventual listing of Ard Financial Group on the Mongolian Stock Exchange.
As a pre-requisite of the above decision, on 15th of August, the Mongolian Stock Exchange permitted Investor Nation JSC to become a publicly listed company. Today, with over 900 individual and corporate investors, our company is a new occurrence on the market, established only 2 years ago with the aim to let Mongolian people to not only be customers of banking and financial service providers, but to benefit from their growth and profits.
Investor Nation’s long term goal is to unlock Mongolian financial sector to the people and to develop it further in line with the global digital revolution in close collaboration with Ard Financial Group. Within this agenda we have invested our shareholders equity into Mongolian Government bonds, Mongol Post, Ard Financial Group and Ard Insurance shares. Consequently, in less than 2 years internal valuation of our stock price has increased by 60 percent.
CEO Tamir Bilegt said, “First of all, on behalf of Investor Nation, I would like to thank relevant officials of the Financial Regulatory Commission, Mongolian Stock Exchange, Central Securities Depository and the General Authority for State Registration for examining our request and making positive decisions in support of our further objectives. Needless to say that all our shareholders have been enthusiastically waiting for this day. I am confident that this event will be a big boost for the development of the Mongolian capital market.”
Chairman of the Board Mr. Ganhuyag Ch. Hutagt said, “We are exhilarated by this news that we were anticipating eagerly. I want to congratulate my team, my shareholders and the Board for this outstanding achievement for which we have worked so hard and long. I think this is a milestone event not only for the Group but for the Nation and its financial industry – we are one inch away from having a truly public financial services group. We have just made one huge leap towards our ultimate goal of founding The People’s Bank - The Right Bank.”
Ard Financial Group is a diversified financial services holding company with an aim to increase its shareholders’ value through investing in and developing leading financial services companies. Our investment portfolio consists of companies such as Mongol Post, Ard Insurance, Ard Credit, Ard Securities, Ard Life, Ard Assets, Ard Management, Investor Nation and Equity Investment Trust (EIT). Investor Nation is a MSE listed public company and a registered marketing trademark owned by Ard Holdings.
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