Ulaanbaatar, Mongolia - 30th April 2025
Ard Financial Group has initiated structural changes three years ago to streamline its operations, enhance profitability, augment investment returns, and implement prudent management practices. Within this framework, the transfers of non-financial service-providing companies that comprised the investment portfolio of Ard Financial Group, including TengerLeague Media Group, GrapeCity Mongolia, and Crypto Nation Fund, along with their respective invested companies, to Huvsgol JSC, have been successfully finalised over the past two years. Accordingly, it is announcing today at its annual shareholders’ meeting that it will provide all shareholders with the distinctive opportunity to participate in the final stage of the restructuring.
With respect to the asset transfers to Huvsgol, the company formulated a project aimed at issuing additional shares, which was submitted to the Financial Regulatory Commission in the preceding year. The requisite approval was granted in March of the current year, subsequent to which the company successfully issued the additional shares and commenced its trading on the MSE.
On April 24, 2025, the Board of Directors of Ard Financial Group convened and reached a significant decision to implement a share buyback and share swap, marking a precedent not only for Ard Financial Group but also for Mongolia as a whole. Concurrently, this decision presents an opportunity for the current shareholders of Ard Financial Group to partake in this initiative. Specifically, Ard Financial Group will repurchase approximately 15 percent of its total issued shares from the market and, in exchange, offer its shareholders the opportunity to convert these shares into Huvsgol shares.
Through this restructuring, Ard Financial Group will focus on its primary financial service-providing companies to enhance their profitability and market position. In this context, Huvsgol will be rebranded as Ard Investment Group, which will not only acquire interests in non-financial businesses but will also undertake projects in the mining, energy, and real estate sectors, which are fundamental to Mongolia’s economy. Furthermore, Huvsgol will leverage its structure as a public company to bridge Mongolia with the international market.
Esteemed shareholders of Ard Financial Group (MSE: AARD), we would like to inform you that until May 30, 2025, you may submit a request to swap up to 50% of your shares for shares of Huvsgol (MSE: HVL), which represents a consortium of non-financial service-providing companies, at a ratio of 1:20, meaning 1 AARD for 1 HVL. Based on the offers received, requests to swap up to 300 AARD shares will be processed immediately, while any requests exceeding this limit will be allocated on a pro-rata basis.
Comprehensive information pertaining to the share-swap will be provided soon by Ard Financial Group and Ard Securities.
Ard Financial Group is Mongolia's leading fintech company that invests in finance and technology companies as part of its mission to build the Investor Nation.
For further information:
Headquarters: 17th floor, Central Tower, Suhbaatar Square, 8th horoo, Suhbaatar district, Ulaanbaatar, Mongolia. w3w: certified.vibes.passenger
Tel: +976 7700 3322
Email: info@ardholdings.com
Website: ardholdings.com
