 In November 2006, New World Development then sold 58.04% shares of New World Mobile Holdings to Moral Glory International, a private company that was owned by at that time.In February 2007, Moral Glory International launched a mandatory public offer to acquire the remaining share of New World Mobile Holdings.In May 2007, Mongolia Energy Corporation (the successor of New World Cyberbase), disinvested 8.32% shares of New World Mobile Holdings to the public market.