FIRST PUBLIC ISSUE OF STOCKS IN ARMENIA TO BE REGISTERED ON STOCK EXCHANGE BEFORE END OF 1ST Q
ARKA
Feb 27, 2009
YEREVAN, February 27. /ARKA/. The first public issue of stocks in
Armenia is to be registered on the stock exchange before the end of
the first quarter, Armen Melikyan, director general of NASDAQ OMX
Armenia Stock Exchange, said on Thursday. He refrained from pointing
out the company that is going to enter IPO market.
He said the company would announce that personally. "However, we
find mass appearance of companies on the IPO market wrong. It would
be better companies to pass relevant training and ensure transparency".
Melikyan thinks companies have plenty to do for entering IPO market
and potential issuers should understand that very well.
"It isn’t important how many companies and which of them are planning
to enter the market, their willingness to be transparent is important",
he said.
He said that IPO market gives large room for issuers, which have to
be transparent.
He thinks that if Armenia has at least 20 companies listed and ready
for public activity in 2010, it will be able to place on record fast
growth of capital market.
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.
On January 27, 2009, Armenian Stock Exchange was renamed NASDAQ
OMX Armenia.