蒙古礦業公司在銝國際的證券交易所的IPO案例探討

Abstract

Mongolia is rich in mineral resources and mining industry is integral to Mongolian economy and attracting foreign investments. In this current situation, Mongolian mining industry companies started to go public to raise capital and attract more foreign investments. The purpose of this study is to propose a business model regarding how Mongolian mining companies go public abroad based on two Mongolia cases and relevant secondary data published by international news agencies. This business model describes procedures and considerations for Mongolian mining companies to follow if they want to launch IPO abroad. Companies should consider why they want to go public, benefits and opportunities, advantages and disadvantages of going public, timing, management team, historical sales data and product superiority in order to succeed. IPO procedure includes making decisions to go public, preparation, hiring advisors and creating management team, then going through all the process according to going public requirement. This study was limited by the previous research, subjects and ability of experts. Doing this study creates a basic business model for future research and Mongolian mining companies. Data for this research was obtained from both secondary and initial source which is obtained from interviews with employees in Mongolian mining sector companies. Each interview questionnaire was sent to interviewees through emails. Interview questionnaire had a cover letter that explained the purpose of the interview and brief introduction of case companies. Key Words: Initial Public Offering (IPO), going public, IPO model, Securities and Exchange Commission (SEC), Mongolian Mining Corporation (MMC), Erdenes Tavan Tolgoi LLC (ETT), Hong Kong Stock Exchange (HKEx).

Mongolia is rich in mineral resources and mining industry is integral to Mongolian economy and attracting foreign investments. In this current situation, Mongolian mining industry companies started to go public to raise capital and attract more foreign investments. The purpose of this study is to propose a business model regarding how Mongolian mining companies go public abroad based on two Mongolia cases and relevant secondary data published by international news agencies. This business model describes procedures and considerations for Mongolian mining companies to follow if they want to launch IPO abroad. Companies should consider why they want to go public, benefits and opportunities, advantages and disadvantages of going public, timing, management team, historical sales data and product superiority in order to succeed. IPO procedure includes making decisions to go public, preparation, hiring advisors and creating management team, then going through all the process according to going public requirement. This study was limited by the previous research, subjects and ability of experts. Doing this study creates a basic business model for future research and Mongolian mining companies. Data for this research was obtained from both secondary and initial source which is obtained from interviews with employees in Mongolian mining sector companies. Each interview questionnaire was sent to interviewees through emails. Interview questionnaire had a cover letter that explained the purpose of the interview and brief introduction of case companies. Key Words: Initial Public Offering (IPO), going public, IPO model, Securities and Exchange Commission (SEC), Mongolian Mining Corporation (MMC), Erdenes Tavan Tolgoi LLC (ETT), Hong Kong Stock Exchange (HKEx).