In one of the largest deals
ever in the history of the Mongolian Stock Exchange, Firebird Management, a
U.S.-based fund management firm, acquired 14.3% of total outstanding shares of
Baganuur JSC  for USD15.2 million last
month. This was the latest in Firebird’s purchase of shares of locally listed
Mongolian coal companies. It already owns over 50% of Sharyn Gol JSC and 8% of
Shivee Ovoo JSC, a 90% state-owned company listed on the MSE.