“Bodi Insurance” LLC will offer 20 percent of the company to the public and raise MNT 5.16 billion

“Bodi Insurance” LLC has get permission to issue IPO from Financial Regulatory Commission. The company was established in 1995 and the company informed that they will offer 47 million shares by MNT 113 per share to the public.

The company is planning that the use of proceeds will be for investment and technology upgrade. Current shareholders of the company will issue 11.7 million shares out of total shares which will be issued whereas the company will additionally offer 15 percent of the company. As a result, the company will be 235 million shares of which 20 percent will be offered to the public.

As of the third quarter of this year, total assets of “Bodi Insurance” LLC has been MNT 23.9 billion, which was ranked at the 6th place among insurance and reinsurance companies.

Currently shares of “Ard Insurance” and “Mandal Insurance” JSCs are being traded on MSE as well as the process to merge “Mongol Insurance” company with “Khorgo Khairkhan” JSC is being executed.

In the end of the third quarter of 2019, total assets of insurance companies have reached MNT 373.6 billion, which increased by 14.8 percent comparing to the same period of last year.

Source: bloombergtv.mn