The amendments to the Securities Markets Law created the legal framework for introducing dual-listing in Mongolia. Dual-listing refers to the listing of foreign listed companies on domestic stock exchange or domestic listed companies’ listing on overseas exchanges. The detailed rules to regulate dual-listing titled ‘Regulation on Listing the Shares of Foreign-Listed Companies and Registering the Shares of Domestic Listed Companies Listing Overseas’ was drafted by the joint working group consisting of the FRC and the MSE, which was subsequently approved by the FRC meeting on 24 November 2017.

In accordance with this regulation, MSE revised its listing rules that came into effect on February 2018. Upon the creation of a complete legal and regulatory framework for dual-listing, MSE has received its first dual-listing application on 12 March 2018 from a Toronto listed company. The request will be reviewed by MSE within 15 working days in accordance with the relevant rules and regulations.

MONGOLIAN STOCK EXCHANGE