Bogd FT Ltd Filed Primary

What the company does

Bogd FT Limited is a Cayman Islands-incorporated holding company for Bogd Bank JSC, a diversified financial services group offering a wide range of banking and financial services to corporate and retail customers in Mongolia. Since its founding in 2014, the company provides traditional banking products and services such as retail lending, deposit taking, international remittances, and loan, deposit and foreign exchange products, as well as insurance brokerage, foreign exchange transactions, and letter of credit issuance. As of December 31, 2025, the Bank operated a network of 17 branches and 8 ATMs in Mongolia.

Use of proceeds

Based on an assumed offering price of $4.00 (the low end of the range), the company intends to use the net proceeds approximately 70% (about $15.2 million) to support lending activities domestically and in selected regional markets within Central Asia, approximately 20% (about $4.3 million) for investments in technology, and approximately 10% (about $2.2 million) for sales channel development and expansion.

Underwriters

Extracted from F-1 0001213900-26-096115, filed Sep 1, 2026 and verified against that filing text.

Key risk factors

• Loan portfolio quality

  “If we are unable to effectively maintain the quality of our loan portfolio, our business, financial condition and results of operations may be materially and adversely affected.”

• Short-term funding and deposit rollover

  “Our funding is primarily short-term and depositors may not roll-over deposited funds upon maturity.”

• Internal controls and financial reporting

  “Failure to implement and maintain an effective system of financial reporting and internal controls may materially and adversely affect our ability to accurately or timely prepare financial information.”

• Controlling shareholder influence

  “Our Controlling Shareholder and related parties may exercise influence over certain of our affairs and may have interests which differ from ours.”

• Mongolian credit risk environment

  “We operate in Mongolia, where credit risks and counterparty exposure experienced by banks may be greater than in more developed countries.”

• Intense banking competition in Mongolia

  “Competition in the Mongolian banking industry is intense, and our growth strategy depends in part on our ability to compete effectively.”

• Mongolian economy dependence on commodities

  “The Mongolian economy depends heavily on agriculture and commodities for growth, which are cyclical in nature, and is particularly vulnerable to fluctuations in commodity prices.”

• No active trading market and price volatility

  “An active trading market for our Ordinary Shares may not develop and the trading price for our Ordinary Shares may fluctuate significantly.”