Mongolia Mining and Winsway join two Hong Kong indexes
Mongolia Mining Corp. and Winsway Coking Coal Holdings have been added to both the MonBiz Mongolia Index and MonBiz Hong Kong Index after their recent IPOs in Hong Kong, says Eurasia Capital. The two companies add USD5.6 billion in market capitalization value to each index, an amount that is larger than Mongolia"s 2009 GDP of USD4.2 billion. The MonBiz Mongolia Index now has 26 members with a total market capitalization of USD29.3 billion or near 700% of Mongolia"s GDP. Meanwhile, the MonBiz Hong Kong Index reached 9 members and USD10.6 billion in market capitalization or twice the size of the country"s GDP.
With USD3.8 billion in market capitalization, MMC now ranks as the largest Mongolian-owned company and third largest Mongolia-focused internationally listed company after Ivanhoe Mines and Centerra Gold. Winsway is ranked 6th. As a result, the expanded MonBiz Mongolia Index now includes six companies with market capitalization exceeding USD1 billion, four of them listed in Hong Kong. Thanks to MMC and Winsway, the market capitalization of the MonBiz Hong Kong Index has more than doubled to USD10.6 billion and the HKEx"s share in the Index"s total market capitalization jumped to 36% from 23%.
With USD3.8 billion in market capitalization, MMC now ranks as the largest Mongolian-owned company and third largest Mongolia-focused internationally listed company after Ivanhoe Mines and Centerra Gold. Winsway is ranked 6th. As a result, the expanded MonBiz Mongolia Index now includes six companies with market capitalization exceeding USD1 billion, four of them listed in Hong Kong. Thanks to MMC and Winsway, the market capitalization of the MonBiz Hong Kong Index has more than doubled to USD10.6 billion and the HKEx"s share in the Index"s total market capitalization jumped to 36% from 23%.
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