Suu JSC will issue 85.5 million shares

Suu JSC listed on Mongolian Stock Exchange held its annual general meeting of shareholders virtually last Friday. The company solely composed 49 percent of total dairy products and 73 percent of liquid dairy products in domestic market.

Suu JSC planned to spend MNT 27.1 billion for introducing new product and improving businesses of the company in 2020 as well as they estimated to increase its sales amount by 16 percent. Also, they expected that dairy products’ market will rise by 30 percent next five years.

Shareholders of the company supported a proposal to issue FPO at the meeting. As a result, the company will issue 85,589,000 shares which equal with 25 percent of current outstanding shares of the company. According to the approval of Financial Regulatory Commission and Mongolian Stock Exchange, FPO will be issued, moreover, National Securities company is going to work as underwriter of the FPO issuance. Currently market capitalization of the company totaled MNT 65.8 billion.

Source: Local Newspaper “Today Newspaper”