ITools Company’s initial public offering set a record of MNT 4 billion on the Mongolian Stock Exchange (MSE) after the closure of today’s trading (10 November). This past week, the company launched an IPO. ITools has become the 18th Mongolian company to launch an IPO on the MSE. Last time, the Mongol Post received orders more than twice the share offering.

ITools was founded in 2011 and provides over 30 products and services such as domain name registration, internet and e-mail provision. The company is offering 38.8% of its outstanding shares through its IPO and plans to expand its data centre business by founding a TIER III standard modular data center park in the town of Darkhan.