Within the framework of its medium-term strategy of becoming a “Green Bank”, Trade and Development Bank of Mongolia (TDBM) has set to use net proceeds from its INitial Public Offering (IPO) of 5% of the Bank’s total issued shares, to finance its sustainable loans in line with eligible categories specified in TDBM’s Sustainability Framework. From the primary market, TDBM received 2,528 orders, total of MNT 105.5 billion (equivalent to approx. USD 30.5 million) for the Bank’s shares, which surpassed its initial target of MNT 83.5 billion ( or USD 24.2 million equivalent), and closed its IPO with oversubscription status of 126.4%.
In accordance with TDBM’s strategy to expand its presence in Small & Medium Business (SMB) and retail markets, net proceeds from Bank’s offerings are expected to be allocated towards following business segments.
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Corporate segment: 50.0%
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SMB segment: 20.0%
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Retail segment: 30% Please click here for the detailed report.