KHAN BANK’S IPO ACTION PLAN ENDORSED BY STATE REGULATORY BODIES

Khan Bank has taken consecutive steps since February 2021 to become a publicly listed company,  in accordance with new laws and regulations. As part of these actions, Khan Bank’s IPO Action Plan was submitted to the Bank of Mongolia (BoM) and the Financial Regulatory Commission (FRC) on June 30, in accordance with the amended Banking Law and the temporary regulation on developing, implementing, reporting and monitoring plans to restructure banks as a joint-stock company, changing shareholder structure and the amount of share capital permitted, approved through a joint decree from the Governor of the BoM and Chairperson of the FRC.

The BoM and the FRC have endorsed Khan Bank’s IPO Action Plan, determining it to be acceptable, meeting the relevant criteria, and implementable. This state regulatory body endorsement allows Khan Bank to take further action to become a publicly listed company.

Khan Bank, the largest and the most influential commercial bank in Mongolia, will be registered as a listed company on the domestic securities market, which will be a major boost to the development of the Mongolian capital market.

Source:  www.khanbank.com