According to the parliamentary resolution, work to launch Erdenes Tavan Tolgoi company’s IPO at global market will begin in 2019 and the Government will ensure the IPO preparation works within 180 days and will introduce it to the Parliament at the end of 2018. “It is significant to commence the work without losing time when price of minerals has been raised at the global market, domestic political condition is favorable as well as having much support from the society regarding the TT development” said Minister D.Sumyabazar. To choose stock exchange for launching IPO, offers from foreign stock exchanges such as Hong Kong, New York, Shanghai, Tokyo and Toronto will be taken into consideration. “We see the NYSE and HSE are possibly to put more profitable offers. Also the Government is to hold talks with biggest international investment banks and collaborate with domestic and foreign consultants for studying stock market.
The Minister underlined that construction work of TT railway would be commenced urgently, as it is a fundamental base of intensifying Tavan Tolgoi mine development.