The Mongolian Stock Exchange state-owned company has achieved the following results in the first half of 2020:
- MSE traded a total of 164.9 million shares worth MNT 23.5 billion on the primary and secondary markets, 5.8 thousand units of Government bonds worth MNT 586.9 million on the secondary market, while, 50 thousand corporate bonds worth MNT 5 billion and on the secondary market and 11 corporate bonds worth MNT 1.1 million. In total, the market turnover reached MNT 29.1 billion.
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Due to the spread of Covid-19 disease, MSE's trading volume significantly declined, however, MSE successfully launched the IPO of Bodi Insurance JSC worth MNT5.3 billion and public offering of Lend NBFI JSC's corporate bonds worth MNT5 billion.
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According to the resolution of FRC on shifting the Mongolian capital market to the DVP with T+2 finality system on March 31, 2020, MSE’s “Trading rules” were amended to include the concepts of trade affirmation and trade cancellation.
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The “Asset Backed Securities Listing Rules” that adopted by the Mongolian Stock Exchange’s Board of Directors meeting on the 7th of February 2020 were approved by the FRC Chairman’s Order No.146 of on the 10th of April 2020. It will enable that banks and financial institutions pool their assets and create asset backed securities which allow them to raise capitals and reduce risks. This new product will offer not only new financing source for issuers and but also less risky financial product with fixed income for investors.
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The TOP 20 index and listing tiers were renewed.
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The “Rhinos investment UTsK” LLC was admitted as a member.
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During the reporting period there are no changes has been made into the company’s management and employees salary and compensation and the company did not exempt from taxes and social security payment during the epidemic of Covid-19.
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MSE did not make changes in the salaries of the employees and was not eligible for the Government support scheme. However, we saved a 20 percent of total expenses by minimizing the operating expenses.
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As for the financial results, MSE generated operating income of MNT596.9 million and an operating expenses of MNT 694.5 million which results in a deficit of current period operations of MNT 97.6 million. It recorded a pretax loss of MNT 402.5 after recognizing an accumulated depreciation and amortization as well as service charges related to Millennium IT system.
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MONGOLIAN STOCK EXCHANGE