Trade
Open an Account

Products

Underwriter

We offer professional advice and assistance to companies looking to raise capital through various means, including initial public offerings (IPOs), private equity issuance, additional equity issuance, corporate bonds, and other types of securities. Additionally, we provide underwriting services at a professional level.

Customers receiving underwriting services

103.3

Billion

2022

11.9

Billion

2022

10.9

Billion

2023

114.2

Billion

2019-2023

4.0

Billion

2021

10.0

Billion

2021

50.0

Billion

2022

10.0

Billion

2022

10.0

Billion

2022

6.6

Billion

2022

45.0

Billion

2022

8.3

Billion

2023

15.2

Billion

2024

тэрбум төгрөг

Нийт татан төвлөрүүлэх дүн:

тэрбум төгрөг

Нийт татан төвлөрүүлсэн дүн:

Хувь

Давж биелсэн захиалгын хувь:

Equity financing

  • Savings in Time and Finance Costs:
    Investors who purchase shares become shareholders, not borrowers. This means the company does not have to make interest payments, nor is there a repayment period for these funds.
  • Opportunity for Refinancing:
    A joint-stock company has the flexibility to issue additional shares and raise funds from investors multiple times.
  • Enhanced Corporate Governance and Image:
    When a company is owned by a broader base of shareholders, strategic decisions are made at shareholder meetings. This level of good governance is a key factor in attracting investors.
  • Improvement in Company Management:
    Equity ownership allows for the possibility of qualified experts joining the management team, thereby enhancing the company’s leadership.
  • Motivation for Key Experts:
    Offering key professionals, the opportunity to own shares in the company stimulates their long-term interest and commitment.

Debt financing

An open bond is a debt instrument available on the Mongolian Stock Exchange, accessible to the public without specific qualifications. This allows anyone to invest in this type of debt instrument.

  • Retention of Management Rights:
    By raising funds through bonds or debentures, businesses can retain management rights without having to offer a portion of the business to the public.
  • Flexibility in Repayments:
    Unlike bank loans, which typically require monthly principal and interest payments, open bonds offer more flexibility. They allow the principal to be paid at the end of the term, with interest payments being made quarterly, semi-annually, or annually, depending on the company’s cash flow.
  • High Probability of Successful Fundraising:
    Open bonds generally have a high likelihood of successful fundraising since they attract public funds through the exchange. They are also appealing to investors due to their high yields, low taxes, and the option to trade the bonds before they mature.

Closed-end debt instruments are designed for qualified professional investors and are traded in the Over-The-Counter (OTC) market.

  • Retention of Management Rights:
    Similar to open bonds, financing through bonds enables businesses to keep management rights without having to offer a stake in the business to the public.
  • Repayment Flexibility:
    While bank loans typically necessitate monthly principal and interest payments, closed bonds offer more flexibility. They allow the issuer to choose when to pay the principal—either at the term’s end—and to make interest payments quarterly, semi-annually, or annually, according to their cash flow.
  • Efficiency in Fund Attraction:
    Closed-end bonds, targeting professional investors or those comfortable with a certain level of risk, can often attract funds more quickly. This is partly due to the OTC market’s characteristics: less regulatory oversight, potentially higher bond yields than the exchange market, and a faster mechanism for fund withdrawal.

Asset-Backed Securities (ABS) are securitized financial instruments offered to the public either in an open or closed format. They are created by forming a special purpose company to assemble a portfolio of assets based on future earnings. This arrangement allows investors to grow their funds through the future income of a low-risk, fixed-yield ‘loan portfolio.’

  • Specificity and Liquidity:
    ABS offers improved liquidity compared to traditional bonds, as their cash flow repayment is structured in pre-arranged stages. Additionally, these securities are distinguished by being secured by the future cash flow from stable and specific loans.
  • Low Risk:
    ABS are typically insulated from corporate bankruptcy, which significantly lowers their operational risk. Furthermore, the asset portfolio of ABS is often diversified, containing a variety of assets. This diversification reduces the risk associated with reliance on a single asset type.