RENESA CJSC TO BECOME MARKET MAKER OF ARMENIAN ARARATBANK’S BONDS ON ARMENIAN STOCK EXCHANGE
ARKA
Jan 27, 2009
YEREVAN, January 27. /ARKA/. Renesa Closed Joint Stock Company will
become market maker of Armenian Araratbank’s bonds on Armenian Stock
Exchange from January 27, 2009, press office of NASDAQ OMX Armenia
reports.
Renesa, who became a member of Armenian Stock Exchange from January
24, 2002, will announce prices for Araratbank’s nominal bonds.
Renesa, using its new status of market maker, will maintain bond
liquidity on the secondary market, giving investors a constant room
for buying and selling bonds on Armenian Stock Exchange.
The tranche comprises of 40,000 bonds worth 10,000 each with 9%
annual coupon yield.
The bonds’ maturity date is December 24, 2009. The bonds are under
listing on Armenian Stock Exchange from July 23, 2008. They are
included in Bbond stock exchange list.
The bonds have been given ARBKB2 stock exchange
abbreviation. Araratbank was established on 02.09.1991.
In October 2008, European Bank for Reconstruction and Development
bought 25%+1 share of Araratbank.
The remaining 70% belong to Barsegh Beglaryan, owner of Flash Company.
As of December 31, 2008, the bank’s assets totaled AMD 29.7 billion
and liabilities 22.2 billion.
Total capital of the bank amounts to AMD 7.5 billion, credits 12.2
billion, liabilities to clients amounted to 16.4 billion and net
profit fo r Jan/Dec 2008 was AMD 194.2 million.
Armenian Stock Exchange (Armex) was established in 2001 as voluntary
merger of 21 broker (dealer) companies.
In November 2007, Armex was reorganized into an open joint stock
company.
In January 2008, OMX, Scandinavian stock exchange operator, bought 100%
of Armenian Stock Exchange and Central Depository’s shares.
After NASDAQ and OMX merger in March 2008, the company NASDAQ OMX
Group, Inc became the sole holder of Armenian Stock Exchange and
Central Depository’s shares. 23 securities underwent registration and
listing on Armenian Stock Exchange by January 26, 2009. Capitalization
of Armex amounted to AMD 53.6 billion.