listing MSE not for investment purposes.......that's what i understood from last 6iX webinar "Spring Shareholder Update with Steppe's Executive Team - April 8, 2021"....STGO just wants to open the gateway and make it accessible to mongolians. Well, somehow, i agree with that. Right on that day April 8, one of the mongolian bank announced IPO.......https://www.montsame.mn/en/read/252524 ..... "..The total assets held by the Bogd Bank, which has more than 45,000 customers, were increased by around 5 times, from MNT 44.2 billion in 2015 up to MNT 248.8 billion in 2019, and its net operating profit was estimated at MNT 2.9 billion as of 2019. ..."
"...Ard Securities LLC, a subsidiary of Ard Financial Group - a diversified financial services holding company, will serve as a primary underwriter to lead the Bogd Bank’s IPO process..." Which is same underwriter as STGO. But STGO shares too weak for enter into competition.
At the end of webinar, CEO smiled and said "...yes, it's not for raising capital...".....hah...yes, what a dumb a/ss wants to buy a shares low ROI, + debt/equity 115%, KPI below 50%....no execution, but more PR....
Still illogical...., what if MSE listing not for investment purposes, why hire underwriter? and pay them? waste of money & time....
LMFAO