“BEREN MINING” JSC’S SECURITIES LISTED ON MSE
Pursuant to FRC Decree no.:47 of 15 February 2012, MSE has completed the review of application of “Beren Mining” JSC to list 1,740,813,320 common shares with nominal value of MNT 157.35 and admitted the shares to listing by the MSE Chief Executive Officer’s Decree No. 163 of December 19, 2012.
The company will offer 30% or 522,243,996 shares of the total shares to the public at the offer price of MNT 250 and the total of MNT 130,560,999,000 is to be raised at MSE.
The raised capital will be used to build a factory to produce 500 thousand tons of iron ore concentrate with 63-67% content and 300 thousand tons of direct reduced iron with 88-92% content and to finance working capital, infrastructure development, office and employees’ housing and other relevant costs.
“Beren Group” LLC’s subsidiary “Beren Mining” JSC was established in 2006 and built mountain concentration factory to produce 250 thousand tons of iron ore concentrate with 63-67% content based on “Tamiriin Gol” iron ore deposit located in Tuvshruulekh soum of Arkhangai province in 2007. “Beren Mining” JSC sells its iron ore concentrate to “Khukh Gan” (MSE:HGN) JSC and exports the remainder to China.
The company has determined 13.1 million tons of iron ore by “Probable “C” category” and 69.7 million tons of iron ore by “Prognostic (P) category” (metallic reserve) on their 4 mining exploitation licenses.
The company’s share capital is MNT 273,916,975,902, from which “Beren Group” LLC owns 51.0% and “Sor Metal” LLC owns 49.0%. After the IPO, “Beren Group” LLC will own 35.7% and “Sor Metal” LLC 34.3% and the remaining 30.0% will be held by the public.
Click here to view the prospectus
Public Relations Department
MONGOLIAN STOCK EXCHANGE