NASDAQ OMX ARMENIA: GLOBAL FINANCIAL CRISIS TO BITE ARMENIA BUT WITHOUT DAMAGING IT BADLY
ARKA
Feb 27, 2009
YEREVAN, February 27. /ARKA/. The global financial crisis will bite
Armenia, but won’t damage it badly, Armen Melikyan, director general
of NASDAQ OMX Armenia Stock Exchange, said on Thursday.
"Armenian capital market is in favorable situation, since it is
underdeveloped", he said.
"But it can’t be said that the financial crisis will bypass the
republic. However, its impact will be not as severe as in Europe,
Russia and other developed markets", he said.
Melikyan said that financial crisis bars manufacturers and investors
from entering capital market.
"We think that the country has enough ability to draw important
lesson from the crisis and prepare itself for appearance on the market
immediately after going out of the crisis."
He said that despite some reduction in the number of investors,
investments still will be made and those companies able to enter
the market after financial crisis will be in advantageous position,
if they are ready to attract pote3ntial investments.
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.