Source: Zuunii Medee, Mongolia-business.com    Date: April 24, 2010

Mr. L. Ganbat, Head of the Administrative Department at the State Property Committee (SPC), has said that stock exchanges of Germany, Hong Kong, South Korea, and Japan have expressed interest in helping restructure the Mongolian Stock Exchange (MSE) which is slated to be privatized this year. Asked why foreign help was being sought, Mr. Ganbat said nationally available skills and experience are not adequate to develop the kind of sophisticated securities market that will be required when Mongolian natural resources finally attract foreign enterprises in numbers. The goal is to allow Mongolians the same easy and equal access to trading in stocks as foreign investors enjoy. 
The SPC has already reconstituted the MSE executive board.  The new Directors are: Mr. Ch.Gankhuyag, CEO of Tenger Financial Cooperative, Mr. B.Bold, CEO of Newcom, Mr. Z.Shagdarsuren, General Secretary of the Association of Banks, Mr. N.Tsogt, an international lawyer, and Mr. Ganbat and two others from the SPC.  Mr. D.Boldbaatar of the Central Bank and Mr. L.Bayaraa from the Ministry of Finance were re-appointed. The SPC wants to get a team of Mongolians who have studied the relevant disciplines abroad to work under the direction of the Board to fulfill the Government directive to develop the country’s capital market.
The Government has decided in principle that several State-owned companies or joint ventures controlling strategically important mineral deposits will issue IPOs at international securities markets, but no specific decision has yet been taken on the shareholding ratio in the companies or on details on the IPOs, Mr. Ganbat said.