The revised Securities Market Law of Mongolia, adopted on May 24, 2013, provided a legal framework for dual listing of securities on both home and international exchanges. In order to realize this opportunity, MSE has been working with the market regulator and market participants and amending the related rules and regulations.
In accordance with the provision 14.2 and 18.4 of the Securities Market Law, FRC approved the “Temporary list of approved foreign stock exchanges” and “Temporary list of approved jurisdictions in which underlying securities of depository receipts are registered” on July 20th, 2017 on the basis of the recommendation from MSE.
This will enable companies, that already listed on the approved stock exchanges and registered their underlying securities in jurisdictions that have a well-established investor protection system, to be exempt from certain regulatory requirements when issuing their shares and depository receipts in Mongolian capital market. More importantly, this will help over 30 companies operating in Mongolia and listed on 5 international exchanges to expand their market as well as Mongolian citizens to possess and benefit from those securities.
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MONGOLIAN STOCK EXCHANGE