Established in 2000, Hai Bi Oil JSC has been one of the largest wholesaler, retailer, and importer of coal for 8 years. Since its establishment, the company has been cooperating with the biggest mining and coal producing companies in Mongolia and abroad, such as: Zolotoi Vostok Mongolia, Ulaanbaatar railway, Mongol Gazar, Baganuur, Sharyn Gol Trading, Mongolyn Alt, Shivee-Ovoo, Erdenes Holding etc.

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Apart from coal, however, Hai Bi Oil has also focused heavily on oil production as well as recycling waste lubricants, which pose major environmental problems in Mongolia, into high quality end products. Hai Bi Oil was the first Mongolian lubricant company listed on MSE, ever since it began to recycle waste lubricants. In 2001, Hai Bi Oil started to import petroleum and oil products from Russia and China. In addition, the company cooperated with "Petrovis" Co., Ltd, "Altjin" Co., Ltd, “Global Line" Co., Ltd and "Tas Petroleum" in buying and retail selling coal products in 2003. Recently, major importers of lubricant products cannot fully supply Mongolian demand. With an unlimited resource of raw materials and market leading position, Hai Bi Oil has bright future and estimated to earn positive financial results.

Hai Bi Oil has been selling public shares since May 02, 2007 with initial price of 100 MNT per 1 stock unit. On Jan.25 2008, the company raised 640 million MNT through an additional offering of 2 million shares. The additional offering price per share opened at 300 MNT. The company is offering 6,000,000 (85.7%) unit of stocks open to the public and 1,000,000 (14.3%) unit is closed. The main shareholders of the company are American investment funds and some institutional investors from other countries. On October 27 2008, Hai Bi Oil had grandly opened its new factory “re-producing used oil factory”-an environment friendly factory that will produce good qualified oils.


Ticker symbol-            HBO
Stock Code-                525
Total issues -             7, 000, 000

Market capitalization – 2 205 000 000 MNT (as of July 2008)

 

Source: www.mse.mn 

             www.bdsec.mn