ARARATBANK ISSUES FIRST NOMINAL NON-DOCUMENTARY SHARES

ARKA News Agency
Jan 9 2008
Armenia

YEREVAN, January 9. /ARKA/. For the first time, the Araratbank CJSC
has issued 76,300 nominal non-documentary shares. The principal value
of the shares is AMD 5,000, the flotation value totaling AMD 5,900,
the bank’s press service reports.

The stock flotation was scheduled for December 17, 2007 to January
21, 2008. However, by December 29, 2007 all the shares were placed
and demand exceeded offer. As a result of the bids, the Araratbank
acquired 83 new shareholders.

On December 17, 2007, the bank announced about flotation of nominal
non-documentary shares for the total of AMD 381.5mln by direct public
offer (DPO).

The Araratbank (representative of the Armsvyaz Bank) was established
on September 2, 1991 and was licensed on October 31, 1996. In August
2007, the bank was reorganized into an OJSC. The Araratbank’s absolute
shareholder is the Flash Company.

The bank’s assets totaled AMD 16.4bln, the capital amounting to AMD
4.5bln. The bank’s profit totaled AMS224.8bln in January-September
2007.