MarketsBreakingApr 27
MSE Top-20 Closes at 6-Month High on Banking Rally
The benchmark gained 1.8% on the day, led by Khan Bank (+2.5%) and Golomt Bank (+1.2%). Volume hit MNT 12.4B, well above the 30-day average.
Market Feed
Headlines from local and global wires, AI-tagged to entities and reviewed by CMM analysts.
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20DealsApr 27
Khan Bank Announces MNT 50B Bond Issuance for Infrastructure Lending
Five-year senior secured note priced at 11.5%. Proceeds earmarked for power transmission and urban water projects.
Reuters
CompaniesApr 27
Oyu Tolgoi Underground Phase 2 Reaches Production Milestone
Rio Tinto announced first ore from Panel 2 ahead of schedule. Sustaining capex guidance held at $1.2B for 2026.
Mining.com
PolicyApr 26
Cabinet Approves Updated Mining Royalty Framework
Draft amendments cap progressive surcharges at 18% for copper exports. Industry response cautiously positive; Erdenes Mongol awaiting written guidance.
DealsApr 26
TDB Said to Mandate Banks for $500M Eurobond Roadshow
Citi, JPMorgan, and Mizuho reportedly mandated for early-June marketing. Use-of-proceeds includes refinancing and Central Asian expansion capex.
Reuters
MacroApr 26
Mongolia's March CPI Comes In at 11.8%, Below Consensus
Headline inflation eased 30bps from February. Food prices remain the dominant driver. Bank of Mongolia next decision May 12.
FT
CompaniesApr 26
Ard App Crosses 2M Active Users, Doubles QoQ Transaction Volume
Ard Financial Group's super-app reported 2.1M MAUs as of March. P2P transfer and merchant payments led growth.
Bloomberg
CompaniesApr 26
Erdenes Tavan Tolgoi IPO Roadmap Pushed to H2 2026
MSE listing now targeted for September. Working group cites pending royalty framework as the main schedule risk.
CMM Research
SectorsApr 25
Coking Coal Spot Hits 14-Month Low on China Steel Demand
Newcastle benchmark fell to $186/t. Mongolian exporters face additional pressure from rail capacity constraints at Gashuunsukhait.
Mining.com
DealsApr 25
Tsakhia Solar Park Achieves Financial Close
100MW project reached financial close with $92M senior facility led by ADB. Commissioning targeted Q3 2026.
DealsApr 25
FMO Commits Additional $50M to Mongolian Green Finance Pipeline
Top-up follows the original $150M facility announced in January. Khan Bank and TDB are the lead intermediaries.
CompaniesApr 24
Gobi Cashmere Q1 Revenue Up 14% on Premium Channel Growth
Direct-to-consumer revenue grew 32% YoY. EBITDA margin expanded 180bps to 18.4%.
Bloomberg
PolicyApr 24
MSE to Pilot T+2 Settlement in June
Mongolian Stock Exchange announced phase 1 of its settlement modernization program. Initial scope covers MSE Top-20 constituents.
Montsame
DealsApr 24
Aspire Mining Closes A$15M Placement, Resumes Ovoot Drilling
Funds support an extended drill campaign at the Ovoot Coking Coal Project. Lead manager: Canaccord Genuity.
Mining.com
PolicyApr 23
Bank of Mongolia Holds Policy Rate at 12%
Statement cited persistent food-price inflation and tugrik volatility. Next meeting May 12.
FT
CompaniesApr 23
Mongolian Properties Reports First-Quarter Pre-Sales of MNT 84B
Pre-sales tracked above plan. Three new projects targeted for Q3 launch in UB.
CMM Research
SectorsApr 22
Newcom & Korean Consortium Sign MoU for Wind Project
150MW wind farm in Sainshand. PPA framework under negotiation with Central Grid.
Reuters
CompaniesApr 22
Mandal Insurance Net Income Up 22% on Non-Life Premium Growth
Combined ratio improved to 92.3%. Investment income held flat YoY.
Bloomberg
PolicyApr 22
Parliament Approves 2026 Supplementary Budget
MNT 1.2T supplementary budget passed final reading. Allocations weighted toward energy infrastructure and pension top-ups.
Montsame
CompaniesApr 21
M Bank Reports Strong Trade Finance Demand From Mid-Cap Importers
Trade finance book grew 18% YoY in Q1. NIM held at 3.9%.
CMM Research