By Order No. A/358 of the CEO of the Mongolian Stock Exchange (MSE) dated September 5, 2025, the classification of securities listed on the MSE has been revised based on the performance indicators of 2024 and 2025 of listed joint-stock companies.
According to the updated classification:
-
From Tier II to Tier I: Mongolian Basalt JSC, Monlogistics Holding JSC, Premium Nexus JSC advanced.
-
From Tier I to Tier II: Talkh Chikher JSC, Gazar Shime Uildver JSC, Makhimpex JSC, Bodi Insurance JSC were downgraded.
-
From Tier III to Tier II: Buligaar JSC advanced.
-
From Tier II to Tier III: Dornod Khudaldaa JSC, Erdenes Solutions JSC, Mongol Shiltgeen JSC, Aduunchuluun JSC, Nekheesgui Edlel JSC, Berkh Uul JSC, Frontier Land Group JSC were downgraded.
List of Companies Classified in “Tier I”
|
No. |
Company Name |
Numeric Code |
Symbol |
Tier |
|---|---|---|---|---|
|
1 |
APU JSC |
90 |
APU |
Tier I |
|
2 |
Ard Insurance JSC |
548 |
AIC |
Tier I |
|
3 |
Ard Credit NBFI JSC |
550 |
ADB |
Tier I |
|
4 |
Ard Financial Group JSC |
326 |
AARD |
Tier I |
|
5 |
BDSec JSC |
522 |
BDS |
Tier I |
|
6 |
Gobi JSC |
354 |
GOV |
Tier I |
|
7 |
Golomt Bank JSC |
562 |
GLMT |
Tier I |
|
8 |
Darkhan Nekhii JSC |
71 |
NEH |
Tier I |
|
9 |
Invescore NBFI JSC |
553 |
INV |
Tier I |
|
10 |
LendMN NBFI JSC |
545 |
LEND |
Tier I |
|
11 |
Mandal Insurance JSC |
547 |
MNDL |
Tier I |
|
12 |
Mongolian Mortgage Corporation JSC |
542 |
MIK |
Tier I |
|
13 |
Mongol Basalt JSC |
544 |
MBW |
Tier I |
|
14 |
Mongolian Post JSC |
541 |
MNP |
Tier I |
|
15 |
Mongolian Stock Exchange JSC |
510 |
MSE |
Tier I |
|
16 |
Monlogistics Holding JSC |
569 |
MLG |
Tier I |
|
17 |
Monos Foods JSC |
551 |
MFC |
Tier I |
|
18 |
Premium Nexus JSC |
557 |
CUMN |
Tier I |
|
19 |
Suu JSC |
135 |
SUU |
Tier I |
|
20 |
Tavantolgoi JSC |
458 |
TTL |
Tier I |
|
21 |
State Bank JSC |
564 |
SBM |
Tier I |
|
22 |
Tumen Shuvuut JSC |
549 |
TUM |
Tier I |
|
23 |
Khan Bank JSC |
563 |
KHAN |
Tier I |
|
24 |
XacBank JSC |
568 |
XAC |
Tier I |
|
25 |
Trade and Development Bank JSC |
567 |
TDB |
Tier I |
List of Companies Classified in “Tier II”
|
№ |
Company Name |
Numeric Code |
Symbol |
Tier |
|---|---|---|---|---|
|
1 |
Itools JSC |
543 |
ITLS |
Tier II |
|
2 |
Arig Gal JSC |
191 |
EER |
Tier II |
|
3 |
Atar-Urguu JSC |
17 |
ATR |
Tier II |
|
4 |
Baganuur JSC |
396 |
BAN |
Tier II |
|
5 |
Bayangol Hotel JSC |
13 |
BNG |
Tier II |
|
6 |
Bayanteeg JSC |
445 |
BTG |
Tier II |
|
7 |
Bodi Insurance JSC |
554 |
BODI |
Tier II |
|
8 |
Buligaar JSC |
38 |
MBG |
Tier II |
|
9 |
Gazar Shime Uildver JSC |
565 |
GAZR |
Tier II |
|
10 |
Hermes Centre JSC |
528 |
HRM |
Tier II |
|
11 |
Gutal JSC |
88 |
GTL |
Tier II |
|
12 |
Darkhan Hotel JSC |
366 |
DZG |
Tier II |
|
13 |
Genco Tour Bureau JSC |
521 |
JTB |
Tier II |
|
14 |
Juulchin Duty Free JSC |
34 |
SUL |
Tier II |
|
15 |
Innovation Investment JSC |
570 |
QPAY |
Tier II |
|
16 |
Crypto Nation JSC |
308 |
CNF |
Tier II |
|
17 |
Materialimpex JSC |
379 |
MIE |
Tier II |
|
18 |
Makhimpex JSC |
208 |
MMX |
Tier II |
|
19 |
Mogoingol JSC |
444 |
BDL |
Tier II |
|
20 |
Mongol Daatgal JSC |
162 |
MDIC |
Tier II |
|
21 |
Mongol Nekhmel JSC |
9 |
MNH |
Tier II |
|
22 |
Mongol Savkhi JSC |
2 |
UYN |
Tier II |
|
23 |
Telecom Mongolia JSC |
209 |
MCH |
Tier II |
|
24 |
Moninjbar JSC |
25 |
MIB |
Tier II |
|
25 |
Remicon JSC |
530 |
RMC |
Tier II |
|
26 |
Sendly NBFI JSC |
561 |
SEND |
Tier II |
|
27 |
Talkh-Chikher JSC |
22 |
TCK |
Tier II |
|
28 |
Tandem Invest NBFI JSC |
438 |
TAND |
Tier II |
|
29 |
Takhi Ko JSC |
44 |
TAH |
Tier II |
|
30 |
Tenger Daatgal JSC |
573 |
TGI |
Tier II |
|
31 |
Technicimport JSC |
441 |
TEX |
Tier II |
|
32 |
Ulaanbaatar Khivs JSC |
7 |
UBH |
Tier II |
|
33 |
Ulaanbaatar BUK JSC |
195 |
BUK |
Tier II |
|
34 |
Ulsyn Ikh Delguur JSC |
484 |
UID |
Tier II |
|
35 |
HBOil JSC |
525 |
HBO |
Tier II |
|
36 |
Hasu Mandal JSC |
378 |
HSR |
Tier II |
|
37 |
Khuvsgul Altan Duulga JSC |
402 |
ADU |
Tier II |
|
38 |
Sharyn Gol JSC |
309 |
SHG |
Tier II |
|
39 |
Shivee Ovoo JSC |
460 |
SHV |
Tier II |
|
40 |
MGL Aqua JSC |
572 |
MGLA |
Tier II |
|
41 |
Erdene Resource Development Corporation JSC |
546 |
ERDN |
Tier II |
|
42 |
Erchim Bayan-Ulgii JSC |
466 |
BOE |
Tier II |
|
43 |
E-Trans Logistics JSC |
537 |
ETR |
Tier II |
|
44 |
Gan Khiits JSC |
234 |
GHC |
Tier II |
List of Companies Classified in “Tier III”
|
№ |
Company Name |
Numeric Code |
Symbol |
Category |
|---|---|---|---|---|
|
1 |
“Autozam” JSC |
369 |
AAR |
Tier III |
|
2 |
“Autoimpex” JSC |
452 |
AOI |
Tier III |
|
3 |
“Aduunchuluun” JSC |
461 |
ADL |
Tier III |
|
4 |
“Azyk” JSC |
187 |
ALD |
Tier III |
|
5 |
“Altai” JSC |
119 |
ALA |
Tier III |
|
6 |
“Altai Zam” JSC |
227 |
AZH |
Tier III |
|
7 |
“Ar Bayankhangai” JSC |
394 |
ABH |
Tier III |
|
8 |
“Arvijikh” JSC |
231 |
ARJ |
Tier III |
|
9 |
“ASBI” JSC |
33 |
CND |
Tier III |
|
10 |
“Achit Alkhaby” JSC |
200 |
NOG |
Tier III |
|
11 |
“Barilga Corporation” JSC |
476 |
BRC |
Tier III |
|
12 |
“Bluesky Securities” JSC |
176 |
BSKY |
Tier III |
|
13 |
“Bornuur” JSC |
207 |
BOR |
Tier III |
|
14 |
“Buunii Hudaldaa” JSC |
435 |
BHL |
Tier III |
|
15 |
“Bukhug” JSC |
69 |
BHG |
Tier III |
|
16 |
“Buteelch Uils” JSC |
239 |
BLC |
Tier III |
|
17 |
“Berkh Uul” JSC |
492 |
BEU |
Tier III |
|
18 |
“Global Life Technology” JSC |
152 |
BAJ |
Tier III |
|
19 |
“Global Mongolia Holdings” JSC |
125 |
HML |
Tier III |
|
20 |
“Goviin Undur” JSC |
86 |
JGL |
Tier III |
|
21 |
“Grand Systems” JSC |
571 |
LOT |
Tier III |
|
22 |
“Guril” JSC |
96 |
GUR |
Tier III |
|
23 |
“Darkhan Guril Tejeel” JSC |
252 |
DAR |
Tier III |
|
24 |
“Darkhan Selenge Tsahilgaan Tugeekh Suljee” JSC |
508 |
DSS |
Tier III |
|
25 |
“Darkhan Us Suvag” JSC |
505 |
DUS |
Tier III |
|
26 |
“Darkhan Khuvun” JSC |
254 |
DAH |
Tier III |
|
27 |
“Darkhan Khuns” JSC |
380 |
DHU |
Tier III |
|
28 |
“Dornod Khudaldaa” JSC |
311 |
DES |
Tier III |
|
29 |
“Devshil Mandal” JSC |
300 |
DMA |
Tier III |
|
30 |
“Euroasia Capital Holding” JSC |
246 |
SUN |
Tier III |
|
31 |
“GDACS” JSC |
385 |
SOH |
Tier III |
|
32 |
“Juulchin Gobi” JSC |
61 |
JGV |
Tier III |
|
33 |
“Zavkhan Bayalag” JSC |
204 |
BLG |
Tier III |
|
34 |
“ESG Finance” JSC |
148 |
GFG |
Tier III |
|
35 |
“Ikh Barilga” JSC |
459 |
IBA |
Tier III |
|
36 |
“Lux Zanadu Group” JSC |
136 |
BAZ |
Tier III |
|
37 |
“Mandalgobi Impex” JSC |
80 |
MNG |
Tier III |
|
38 |
“Merex” JSC |
540 |
MRX |
Tier III |
|
39 |
“Mon Nab” JSC |
471 |
MNB |
Tier III |
|
40 |
“Mongeo” JSC |
332 |
MOG |
Tier III |
|
41 |
“Mongol Alt” JSC |
68 |
ERS |
Tier III |
|
42 |
“Mongol Diesel” JSC |
290 |
MDZ |
Tier III |
|
43 |
“Mongol Keramik” JSC |
40 |
KEK |
Tier III |
|
44 |
“Mongol Securities” JSC |
503 |
MSC |
Tier III |
|
45 |
“Mongol Shevro” JSC |
236 |
MVO |
Tier III |
|
46 |
“Mongol Shiltgeen” JSC |
517 |
MSH |
Tier III |
|
47 |
“Mongolian Railway” JSC |
536 |
MTZ |
Tier III |
|
48 |
“Mongoliin Khugjil Undesnii Negdel” JSC |
120 |
HAM |
Tier III |
|
49 |
“Nogoon Khugjil Undesnii Negdel” JSC |
201 |
JLT |
Tier III |
|
50 |
“Nomin Khishig” JSC |
196 |
TGS |
Tier III |
|
51 |
“Nekheesgui Edlel” JSC |
67 |
NXE |
Tier III |
|
52 |
“Olloo” JSC |
527 |
OLL |
Tier III |
|
53 |
“Orkhon Hugjil” JSC |
409 |
HJL |
Tier III |
|
54 |
“Orkhondalai” JSC |
331 |
ORD |
Tier III |
|
55 |
“Ulzii-Dundgobi” JSC |
98 |
ULZ |
Tier III |
|
56 |
“Undurkhaan” JSC |
389 |
ONH |
Tier III |
|
57 |
“Silicate” JSC |
317 |
SIL |
Tier III |
|
58 |
“Sonsgolon Barmat” JSC |
54 |
SSG |
Tier III |
|
59 |
“Sor” JSC |
97 |
SOR |
Tier III |
|
60 |
“Standard Noos” JSC |
420 |
ALI |
Tier III |
|
61 |
“Standard Property Group” JSC |
269 |
BBD |
Tier III |
|
62 |
“Tav” JSC |
214 |
TAV |
Tier III |
|
63 |
“Tavilga” JSC |
41 |
TVL |
Tier III |
|
64 |
“Talyn Gal” JSC |
464 |
TAL |
Tier III |
|
65 |
“Tumriin Zavod” JSC |
142 |
TMZ |
Tier III |
|
66 |
“Tushig Uul” JSC |
386 |
TUS |
Tier III |
|
67 |
“Tengerleague Media Group” JSC |
408 |
TNGR |
Tier III |
|
68 |
“Teever-Darkhan” JSC |
217 |
TEE |
Tier III |
|
69 |
“Uvs Khuns” JSC |
94 |
HUN |
Tier III |
|
70 |
“Uvs Chatsargana” JSC |
448 |
CHR |
Tier III |
|
71 |
“Ulaansan” JSC |
325 |
UNS |
Tier III |
|
72 |
“Frontier Land Group” JSC |
524 |
MDR |
Tier III |
|
73 |
“Khar Tarvagatai” JSC |
455 |
TVT |
Tier III |
|
74 |
“Kharkhorin” JSC |
179 |
HHN |
Tier III |
|
75 |
“Khishig Uul” JSC |
376 |
HSX |
Tier III |
|
76 |
“Khorin Khoyordugaar Baaz” JSC |
143 |
AHH |
Tier III |
|
77 |
“Khot Development” JSC |
490 |
SDT |
Tier III |
|
78 |
“Khuvsgul Geology” JSC |
108 |
HUV |
Tier III |
|
79 |
“Khuvsgul Khuns” JSC |
431 |
HHS |
Tier III |
|
80 |
“Khuvsgul” JSC |
78 |
HVL |
Tier III |
|
81 |
“Khungun Beton” JSC |
454 |
HBT |
Tier III |
|
82 |
“Khusug Trade” JSC |
56 |
HSG |
Tier III |
|
83 |
“Khukh Gan” JSC |
532 |
HGN |
Tier III |
|
84 |
“Khunnu Management” JSC |
65 |
HBZ |
Tier III |
|
85 |
“Kherlen Khivs” JSC |
133 |
HRL |
Tier III |
|
86 |
“MND” JSC |
118 |
DLH |
Tier III |
|
87 |
“Erdenes Solutions” JSC |
175 |
AMT |
Tier III |
|
88 |
“Erdenet Autozam” JSC |
469 |
EAZ |
Tier III |
|
89 |
“Erdenet Suvarga” JSC |
377 |
SVR |
Tier III |
|
90 |
“Erdenet Us, Dulaan Tugeekh Suljee” JSC |
506 |
EUD |
Tier III |
|
91 |
“Erdenet Khuns” JSC |
154 |
TAS |
Tier III |
|
92 |
“Ereentsav” JSC |
425 |
ECV |
Tier III |
|
93 |
“Monnoos” JSC |
23 |
MNS |
Tier III |
|
94 |
“Khurd” JSC |
8 |
HRD |
Tier III |
MONGOLIAN STOCK EXCHANGE