ARMENBROK ARMENIAN COMPANY PLACES 861,652 COMMON REGISTERED EQUITIES OF ARTSAKH HYDRO POWER PLANT FOR 904.6MLN DRAMS
/ARKA/
May 28, 2009
YEREVAN
Armenbrok Armenian company placed 861,652 common registered equities
of Artsakh Hydro Power Plant for a total of 904.6mln Drams thus
completing the initial public offering (IPO) for Artsakh HPP, the
press service of Amrenbrok ojsc reproted.
Currently arrangement of the listing application and the respective
documentation for listing of Artsakh HPP stock on NASDAQ OMX Armenia
stock exchange is underway. The price per equity is set at 1,050
Drams. Armenbrok company is the consultant and underwriter of the
issue. Armswissbank also became a member of a placement group set up
for the IPO.
Armenbrok reported that the issue and placement of these equities
became the first public large-scale investment program on the Armenian
capital market – unprecedented one in terms of the amount and number
of participants.
1,023 investors participated in the placement, including individuals
and legal entities from Armenia and the NKR, the USA, Switzerland,
France, Slovakia, Australia, Russia, Iran, the UAE.
Involvement of these many countries points to awareness of foreign
investors and international business about the Nagorno-Karabakh
Republic and its efficient business environment. Under the current
crisis conditions and the declining of the world’s leading stock
exchange indices, attraction of funds=2 0exceeding 900mln Drams can
be considered a great success, says the report.
Artsakh Hydro Power Plant ojsc established on November 1 2007 is
fully owned by the government of Nagorno-Karabakh Republic (NKR).
The company produces energy at Sarsang hydro power plant and sells
it to Artsakhenergo cjsc, the only energy operator in the NKR, at a
fixed price. Installed output of the hydro power plant is 50 megawatt;
production capacity is 60-140mln kilowatt-hour energy per year.
Armenbrok ojsc is a leading specialized investment company on Armenian
capital market. It has a 14-year experience on the market and provides
the entire range of investment services, including placement of
securities, and offers business consultation. Armenbrok ojsc with
it capital exceeding 1.1bln Drams is currently one of the biggest
investment companies in Armenia. ($1=370.89Drams).
From: Emil Lazarian | Ararat NewsPress
