LendMN NBFI JSC will issue a bond

LendMN NBFI JSC as leading company in Fintech sector of Mongolia get a permission to issue a “LendMN Bond” from Financial Regulatory Commission. “LendMN Bond” is the first bond which is issued by Fintech company on Mongolian capital market.

LendMN NBFI JSC has introduced new online payment system based on mobile application to the market. The company issued an IPO in 2018 and the company broke the record by amount of IPO subscription.

Maturity of “LendMN Bond” will be 1 year, annual interest rate will be 17 percent and it will be repaid at the end of the term. They will raise MNT 5 billion from the public and nominal price of the bond will be at MNT 100,000.

Furthermore, Mirae Asset Securities Mongolia and Ard Capital Securities companies are working as underwriter for the bond issuance. People will be a possibility to submit their buy order via brokerage companies. Currently market capitalization of LendMN JSC has been MNT 24.8 billion.

Source: ikon.mn