Monvest Group Approved to List National Lottery of Mongolia in Boerse Berlin
BERLIN, Germany, Jul 8, 2012 (GlobeNewswire via COMTEX) -- via PRWEB - At a time when listing on a European stock exchange is almost as hard as winning the lottery for an Asian company, the National Lottery of Mongolia was pleased with the Boerse Berlin approval to list its owner and operator -- Monvest Group Pte. Ltd. (Monvest). Pending the transfer of Monvest shares to the European Clearstream Depository, the Monvest listing paves the way to develop the Mongolian lottery industry and to provide expansion capital for other markets in the region.
"The Berlin approval to list is a landmark for Mongolia at a time when capital markets are in flux," says Dr. Yap, Monvest Chairman. "Global markets are undergoing major changes. Sino Forest problems in Canada, delisting of China OTC listed companies due to poor transparency, and the closing of Frankfurt First Quotation Board (FQB) due to market manipulation have shaken issuers. Our response is to focus on transparency and establish a solid reputation. This is the best one can do in these times."
Monvest is the Singaporean holding company of Mongolian-based Modern Capital Vest LLC, the lottery operator, and majority owner of BizInvin LLC, the holder of a lottery license issued by the Ministry of Finance. Over 80 outlets are operational in the capital city of Ulan Bator, with a plan to open 150 outlets in 2012. Monvest has launched three lottery games -- 4D Lottery, 6/42 Jackpot Lotto and 6D Lottery.
"This has been a listings education," notes Dr. Yap. "The first step of our dream -- and that of our investors -- is being realized. We will make the people of Mongolia proud of our achievements and show that an emerging market company can achieve the high transparency standards of Europe." Monvest takes the high road when it comes to accounting and governance practices. Monvest audits accounts under IFRS standards and provides regular disclosure to shareholders. Monvest completes a semi-annual audit, surpassing regulations that require annual audits. Dr. Yap credits transparency for the success in Berlin. The Boerse Berlin called for all listed companies to be German registered in March 2012, but Monvest received an exemption from the exchange to list in June 2012.
Berlin Capital Market
Boerse Berlin was founded in 1685 through an edict of Great Elector Friedrich Wilhelm and is one of the oldest exchanges in Germany. To address internationalization and growing consolidation pressure, Boerse Berlin has pursued a niche strategy since the 1990s with a focus on trading a wide range of foreign stocks.
Boerse Berlin has secondary stock listings for over 6,000 US securities listed on NYSE, NASDAQ, AMEX, OTCBB and pink sheet markets. While nearly all NASDAQ securities trade in Berlin, companies from China or Africa are available on this market. International bluechips are represented as well as small caps with trading in over 15,000 shares from 82 countries. Berlin plays an important role as a capital supplier to Eastern Europe due to its location in the region. In 2007 Boerse Berlin took a majority stake in EASDAQ NV, which operates under the brand Equiduct to expand its European reach. The key European regulatory requirement of best execution is guaranteed by Equiduct on an order-by-order basis. The launch of the Equiduct trading platform took place in 2009. Equiduct later entered into a strategic partnership with Citadel Securities, a division of Citadel Investment Group, LLC. Equiduct continues to be operated by Boerse Berlin.
"Berlin is the capital of Germany, and Germany is the center of the Euro zone as the one country that is maintaining economic progress," concludes Dr. Yap. "Berlin is an important first step for us in the German capital market. We expect to move to the Frankfurt Stock Exchange Entry Standard in short order. If we can achieve this evolutionary growth it is due to the initial support received from Berlin."
For more information please contact:
David Lake
Greater China Capital
email: davidlake(at)finance-media(dot)com
Disclaimer: This press release constitutes neither an offer to sell or a solicitation to buy securities of Monvest Group Pte. Ltd. This press release is not an offer of securities for sale or a solicitation of an offer to buy securities in the US. The shares of Monvest Group Pte. Ltd. ("Shares") have not been registered under the US Securities Act of 1933, as amended ("Securities Act") and may not be offered or sold in the US, unless registered under the Securities Act or according to an exemption from such registration. There will not be any public offering of the Shares in the US and the Shares will not be registered under the Securities Act.
This document is only aimed at and is only distributed to (i) individuals outside the UK, or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ("Order") or (iii) high net worth entities, and other individuals to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (together referred to as "relevant persons"). The Shares are only available to, and any invitation, offer or agreement to subscribe, buy or otherwise acquire such securities will be engaged in only with, relevant persons. Any individual who is not a relevant person should not act or rely on this document or any of its contents.
This article was originally distributed on PRWeb. For the original version including any supplementary images or video, visit http://www.prweb.com/releases/2012/7/prweb9679978.htm
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Monvest Group Pte. Ltd.
CONTACT: emil@greaterchinacap.com
Emil Chan
emil@greaterchinacap.com
+852 9049 9988
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
"The Berlin approval to list is a landmark for Mongolia at a time when capital markets are in flux," says Dr. Yap, Monvest Chairman. "Global markets are undergoing major changes. Sino Forest problems in Canada, delisting of China OTC listed companies due to poor transparency, and the closing of Frankfurt First Quotation Board (FQB) due to market manipulation have shaken issuers. Our response is to focus on transparency and establish a solid reputation. This is the best one can do in these times."
Monvest is the Singaporean holding company of Mongolian-based Modern Capital Vest LLC, the lottery operator, and majority owner of BizInvin LLC, the holder of a lottery license issued by the Ministry of Finance. Over 80 outlets are operational in the capital city of Ulan Bator, with a plan to open 150 outlets in 2012. Monvest has launched three lottery games -- 4D Lottery, 6/42 Jackpot Lotto and 6D Lottery.
"This has been a listings education," notes Dr. Yap. "The first step of our dream -- and that of our investors -- is being realized. We will make the people of Mongolia proud of our achievements and show that an emerging market company can achieve the high transparency standards of Europe." Monvest takes the high road when it comes to accounting and governance practices. Monvest audits accounts under IFRS standards and provides regular disclosure to shareholders. Monvest completes a semi-annual audit, surpassing regulations that require annual audits. Dr. Yap credits transparency for the success in Berlin. The Boerse Berlin called for all listed companies to be German registered in March 2012, but Monvest received an exemption from the exchange to list in June 2012.
Berlin Capital Market
Boerse Berlin was founded in 1685 through an edict of Great Elector Friedrich Wilhelm and is one of the oldest exchanges in Germany. To address internationalization and growing consolidation pressure, Boerse Berlin has pursued a niche strategy since the 1990s with a focus on trading a wide range of foreign stocks.
Boerse Berlin has secondary stock listings for over 6,000 US securities listed on NYSE, NASDAQ, AMEX, OTCBB and pink sheet markets. While nearly all NASDAQ securities trade in Berlin, companies from China or Africa are available on this market. International bluechips are represented as well as small caps with trading in over 15,000 shares from 82 countries. Berlin plays an important role as a capital supplier to Eastern Europe due to its location in the region. In 2007 Boerse Berlin took a majority stake in EASDAQ NV, which operates under the brand Equiduct to expand its European reach. The key European regulatory requirement of best execution is guaranteed by Equiduct on an order-by-order basis. The launch of the Equiduct trading platform took place in 2009. Equiduct later entered into a strategic partnership with Citadel Securities, a division of Citadel Investment Group, LLC. Equiduct continues to be operated by Boerse Berlin.
"Berlin is the capital of Germany, and Germany is the center of the Euro zone as the one country that is maintaining economic progress," concludes Dr. Yap. "Berlin is an important first step for us in the German capital market. We expect to move to the Frankfurt Stock Exchange Entry Standard in short order. If we can achieve this evolutionary growth it is due to the initial support received from Berlin."
For more information please contact:
David Lake
Greater China Capital
email: davidlake(at)finance-media(dot)com
Disclaimer: This press release constitutes neither an offer to sell or a solicitation to buy securities of Monvest Group Pte. Ltd. This press release is not an offer of securities for sale or a solicitation of an offer to buy securities in the US. The shares of Monvest Group Pte. Ltd. ("Shares") have not been registered under the US Securities Act of 1933, as amended ("Securities Act") and may not be offered or sold in the US, unless registered under the Securities Act or according to an exemption from such registration. There will not be any public offering of the Shares in the US and the Shares will not be registered under the Securities Act.
This document is only aimed at and is only distributed to (i) individuals outside the UK, or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ("Order") or (iii) high net worth entities, and other individuals to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (together referred to as "relevant persons"). The Shares are only available to, and any invitation, offer or agreement to subscribe, buy or otherwise acquire such securities will be engaged in only with, relevant persons. Any individual who is not a relevant person should not act or rely on this document or any of its contents.
This article was originally distributed on PRWeb. For the original version including any supplementary images or video, visit http://www.prweb.com/releases/2012/7/prweb9679978.htm
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Monvest Group Pte. Ltd.
CONTACT: emil@greaterchinacap.com
Emil Chan
emil@greaterchinacap.com
+852 9049 9988
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
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