Source: Onoodor                        Date: 17 November, 2010

In one of the largest deals ever in the history of the Mongolian Stock Exchange, Firebird Management, a U.S.-based fund management firm, acquired 14.3% of total outstanding shares of Baganuur JSC  for USD15.2 million earlier this month. This was the latest in Firebird’s purchase of shares of locally listed Mongolian coal companies. It already owns over 50% of Sharyn Gol JSC and 8% of Shivee Ovoo JSC, a 90% state-owned company listed on the MSE.