ITools, the most recent company to be listed on the Mongolian Stock Exchange, provides over 30 products and services such as domain name registration, internet and e-mail provison. It issued 38.86% of its stock and raised MNT 1.3 billion through its IPO which concluded on November 10, 2017. Using the money it raised on the Mongolia Stock Exchange, the firm plans to expand its data center business by founding a TIER III standard Modular Data Center Park in Darkhan City.
ITools IPO was oversubscribed by 3 times and reached orders for MNT 3.9 billion, becoming the highest ordered stock on the MSE. Due to the oversubscription of the IPO, shares were alloted on a pro-rata basis.
ITools secondary market trading will begin on November 16, 2017.
Standard Investment was the underwriter.
MONGOLIAN STOCK EXCHANGE