ArdNews

🏛️ Government Explores Dual Listing of State-Owned Enterprises on Domestic and International Stock Exchanges

July 08, 2026

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🏛️The Government of Mongolia has signed a Memorandum of Understanding (MoU) with global investment management firm Franklin Templeton to jointly assess the feasibility of dual-listing state-owned enterprises (SOEs) on both the Mongolian Stock Exchange and international capital markets through future IPOs.

📌 Key areas of cooperation include:

  • Preparing selected SOEs for potential IPOs through improvements in corporate governance, transparency, valuation, and financial readiness.

  • Assessing opportunities to transfer a portion of state ownership into investment funds and offer shares to both domestic and international investors.

  • Developing a roadmap covering IPO preparation, valuation, investor demand assessment, prioritization of candidate companies, and the structure of a National Investment Fund.

💡 Ard Insight

The initiative marks a significant step toward integrating Mongolia’s capital market with global financial markets. If implemented successfully, dual listings could strengthen SOE governance, attract institutional foreign investors, improve market liquidity, and provide Mongolian companies with broader access to international sources of capital while enhancing the global visibility of Mongolia’s securities market.

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