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 the first IPO on the Mongolian Stock Exchange - Hotel Mongolia and assisted in raising 1.44 billion MNT.
 
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 acted as the underwriter of Central Asian Cement LLC, the only cement factory located in the city of Ulaanbaatar. IPO of CAC is expected to be finalized at the beginning of 2010.