Under the order # 301 issued on August 5 by the Minister of Finance, MNT five billion worth 50 thousand government bonds will be sold starting from Thursday at the Mongolian Stock Exchange.

The bonds have been issued in order to provide a financial source of the ''40 thousand apartments'' program that is implemented nationwide by the Government of Mongolia. Each bond costs MNT 100 thousand and 30 thousand bonds will be sold at MNT 95231 at the reduced price with an interest of 9.43 percent and with the repayment term - May 2, 2009. Furthermore, the price of 20 thousand bonds will be 92232 at the reduced price and will be granted with 10.24 percent and with the repayment term until May 2009.
                According to the Executive Director of Mongolian Stock Exchange R.Sodkhuu, the government bond is the most unrisky investment mean at the stock market. Business and financial organizations will make a beneficial step by purchasing the bonds. A total of MNT 80 million worth bonds will be sold and the abovementioned trade will be for the second time.

 

Source: Montsame
Aug 6, 2008