Mongolian Stock Exchange: new securities law explained | International Financial Law Review, June 13: • Mongolia’s long-awaited securities law introduces several new concepts into its capital markets, such as depositary receipts, custodian banks and beneficial and nominee shareholders; • These developments make possible the triple-listing of state-owned coal miner "Erdenes Tavan Tolgoi" JSC / "Эрдэнэс Таван Толгой" ХК in London, Hong Kong and Mongolia. They also mean that companies with Mongolian assets incorporated overseas can list on the country’s stock exchange via Mongolian depositary receipts; • The new law includes international-standard disclosure requirements; • Market participants are more optimistic about Mongolia’s investment environment following the passage of the Securities Law; • They predict that the Great Khural, Mongolia’s parliament, will soon approve changes to its contentious foreign investment law.
Posted on: Thu, 13 Jun 2013 14:59:39 +0000
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