ARMENIAN GOVERNMENT MAKES DECISION TO SELL THE STATE SHARE IN AMERIABANK’S CAPITAL

ArmInfo
2009-05-07 14:05:00

ArmInfo. The government of Armenia has made a decision on privatization
of the state share in the capital of Ameriabank (former Armimpexbank)
at a price of 52 mln drams ($140,000). The draft decision was
introduced in the government on Thursday by Finance Minister of
Armenia Tigran Davtyan.

He said the shares cost should be transferred to the state budget
during 7 banking days and added that 1175 ordinary shares at par value
of 40,000 drams each will undergo privatization. (As of January 1,
2009, the bank’s authorized capital has been divided into 455,000
ordinary registered shares at par value of 40,000 drams each – ed.).

As Ameriabank told ArmInfo, TDA Holdings Limited Company, affiliated
with the Russian Investment Company "Troika Dialogue" became holder
of 96,15% of the bank’s block of stock in September, 2007. In June,
2008, Armimpexbank was renamed to Ameriabank, moreover, the new
concept of the bank’s activity with focus on the investment banking
lied at the root of this brand. During 2008, the bank carried out
three emissions of shares: in February – to 4.4 bln drams, in August
– by 10.6 bln drams, in October – by 1.2 bln drams), as a result
of which the authorized capital grew from 2 bln drams to 18.2 bln
drams (the first position in the banking system), and the share of
majority stockholder grew to 99,7%. As of January 1, 2009, the bank’s
shareholders totaled 7, in particular, 3 legal persons (with 99,93%
total share) and 4 individuals (with 0,07% total equity interest).