Cashmere Giant Gobi Leaves Stock Market

“Gobi” JSC, one of the flagship companies of the Mongolian Stock Exchange, has decided to change its status to a closed joint-stock company following a shareholders’ meeting. Previously valued at around ₮200 billion, 84 percent of Gobi JSC is owned by Tavan Bogd Holdings LLC. Last year, the holding company acquired a 33 percent stake from Japan’s Hide Inter LLC, gaining majority control.

The timing of the decision is notable, coming while legal and regulatory issues concerning CEO B.Amarsaihkan remain unresolved.

In recent years, Gobi has pursued a strategy of expanding in international markets. However, the company has not paid dividends for the past six years and has repeatedly reported losses.