Underwriting activity includes consulting the issuer, private placement, as well as IPO issuance on the stock market.
 
In 2006, a total of four companies issued shares on the Mongolian Stock Exchange. Our company operated as the official underwriter and chief dealer for one of them, Hotel Mongolia, with shares worth 1.44 billion MNT.
 
This year, in 2008, several different companies got listed on the Mongolian Stock Exchange including Anod Bank, Hermes Center, Remicon, Naco Fuel, Khukh Gan, and Monfresh Juice.
 
In 2009 Altan San Securities plans to and working on getting more involved in the IPO business and is working on building strategic alliances with some of the other large brokerage firms in Mongolia.