Ulaanbaatar - Gatsuurt, Mongolia's leading agricultural food producer, has successfully issued and financed a five-year closed bond worth MNT40 billion. Ard Securities worked as the bond’s underwriter. The company intends to expand its operations with capital raised from this bond. Furthermore, Ard Financial Group JSC and Gatsuurt LLC have started a strategic cooperation. The cooperation started with Gatsuurt LLC covering all their employees with Ard Life LLC's private pension accounts.
Amarbayasgalan E., Chairman of Ard Securities, said, “We are pleased that Gatsuurt, a national manufacturer, has raised the highest valued bond in Mongolia in a very short time. We look forward to continuing to work together at all strategic levels to build the Investor Nation. ”
President of Gatsuurt Company Chinbat L. noted: “I am delighted to have shown that Mongolia's wealth creators, who were 100 percent dependent on the banking sector, can raise funds through a new financial intermediary in the stock market. With this bond, we will finance the next phase of Mongolia's agricultural and livestock production projects.
Ard Securities is a brokerage and an underwriter that executes approximately 40% of the total trade volume on the Mongolian Stock Exchange. In 2020, it successfully raised capital for the first-ever closed-end fund on the MSE, National Privatization Fund, bringing the total listed companies managed by the Group to 5: Ard Financial Group JSC (MSE:AARD), Ard Insurance JSC (MSE:AIC), Ard Credit NBFI JSC (MSE:ADB), Mongol Post JSC (MSE:MNP), and National Privatization Fund (MSE:XOC).
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