Press Release Ulaanbaatar, Mongolia
Investor Nation joint stock company (IN or the Company) merged with Jinst Uvs, MSE quoted vehicle, and began trading its shares on the Mongolian Stock Exchange on December 15, 2017.
Two years ago more than 900 individuals and entities started joining in our social media crowdfunding movement which calls for founding of a full service financial institution owned by the people of Mongolia.
Going forward, Investor Nation will merge with Ard Holdings and lead the Mongolian banking and financial sector’s digital transformation. Currently, IN owns roughly 7 percent of Ard Holdings and the value of our investment increased by over 60 percent over the last two years.
Investor Nation’s CEO Mr. Tamir Bilegt said, “For the first time in Mongolian financial market’s history, we successfully executed a reverse takeover deal (RTO). On behalf of the Investor Nation’s shareholders and management, I would like to express my gratitude to the Financial Regulatory Commission, Mongolian Stock Exchange, Mongolian Securities Clearing House and Central Depository and State Registration Office, who supported us along this lengthy process. We are confident that this accomplishment will give a significant boost to the development of the Nation’s capital markets.”
Chairman of the Board, Mr. Ganhuyag Chuluun Hutagt noted, “The dream I had since 1991 has been realized – this dream was to offer shares of the company, I help manage, to my fellow citizens on the MSE. With this monumental development at Investor Nation, ordinary people can now choose to own their financial services providers. Me and my team worked hard to make it this far. Thank you and congratulations to them. Congratulations to the shareholders, who had an unwavering faith in our mission, and the ever supportive Board of Directors. We are now only one step away from becoming a publicly owned banking and financial services company. Ard Bank – Right Bank is nearing its fruition.”
The opening share price of IN under JIV ticker pursuant to existing regulations of the MSE was set at MNT501, closing price for Jinst Uvs over 2 years ago. Investor Nation shares have since been rallying at 15 percent maximum allowed and this trend is expected to continue until year-end when it will hit the internal valuation target.
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, Ard Bit, Investor Nation, TenGer Systems, Nomyn Hishig and CryptoNation. Investor Nation is a MSE quoted public company and is a registered marketing trademark of the Group.
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