Rencap Steppes into Mongolia with two tie-ups

By Ivan Anderzhanov in Moscow

Emerging markets investment bank Renaissance Capital has agreed on alliances with two investment firms in the Central Asian frontier of Mongolia.

The bank has signed deals with International Capital Corporation (MICC) and Monet following its recent joint venture agreements in Serbia, India and openings in South Africa and Belarus.

In Mongolia, Rencap said it will focus on equity and fixed income capital raisings, cross-border mergers and acquisitions, and privatization advisory.

Its research team initiated coverage of the country in December with a major report authored by head of research Roland Nash titled, “Mongolia: Blue-sky opportunity.” The report said Mongolia is well positioned to be the fastest-growing economy in the world over the next decade.

“Mongolia’s transformation is now unstoppable,” wrote Nash. “Over the next five years, production of coal will double, gold production will triple and copper output will quadruple. As these resources are bought to market, Mongolia will be transformed into a major economy and its financial markets will become increasingly sophisticated.”

Source:http://emergingmarkets.me/