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Delays dampen Mongolia IPO excitement

February 18, 2010  

From Aaron Pan

After the flotation of coal producer SouthGobi Energy Resources last month, observers were anticipating a raft of Mongolian IPOs to follow suit. But a lack of domestic infrastructure and investment has hurt the deal pipeline.

Excitement surrounding an anticipated wave of Mongolian IPOs is fading fast after the government pleaded for more time to upgrade its underdeveloped financial markets.

Following last month’s successful US$462 million flotation of Mongolian coal producer SouthGobi Energy Resources on the...


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 LOCAL CURRENCY DCM

Rank Bookrunner Value ($m) No. %Share
1 Samsung Securities Co 1,079 13 4.8
2 China Development Bank Corp 1,066 3 4.8
3 KB Financial Group Inc 1,052 10 4.7
4 Daewoo Securities 950 8 4.2
5 Korea Investment & Securities 865 14 3.9
6 Woori Investment & Securities 854 12 3.8
7 SK Securities 758 8 3.4
8 CITIC Securities 686 2 3.1
9 Dongbu Group 650 10 2.9
10 Haitong Securities 649 2 2.9
Subtotal 8,609 70 38.4
Total 22,396 168 100.0

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