ARTSAKH HPP OJSC COMMON STOCKS TO BE INCLUDED IN NASDAQ OMX ARMENIA B LIST
PanARMENIAN.Net
28.10.2009 18:56 GMT+04:00
/PanARMENIAN.Net/ Starting October 29, 2009, common stocks of "Artsakh
HydroPower Plant" open joint stock company ("Artsakh HEK" ojsc) will
be included in the B list of NASDAQ OMX Armenia. A total of 5,962,074
stocks of the company with nominal value AMD 1,000 will thus become
listed and traded at the exchange under ticker symbol AHEK.
"Artsakh HEK" ojsc is a major power production company in
Nagorno-Karabakh Republic (NKR), which currently satisfies around
50% of NKR’s total electricity needs. The company operates Sarsang
hydropower plant, the largest in NKR, which has an average annual
output of 90-140 mln kWh. The major shareholder of "Artsakh HEK"
ojsc is the Government of the NKR, which holds 85.54% of the shares
of the company; about 6% of the company’s shares belong to "VPBP"
cjsc registered in the NKR.
Early in 2009, "Artsakh HEK" ojsc entered the capital market with
the first initial public offering in Armenia allocating 862,074
newly issued common shares of the company to 1,111 local and foreign
investors. The newly raised capital is to be used by the company to
build three modern power plants with capacity of up to 5 MW each on
the Tartar river, the largest in NKR. "Artsakh HEK" plans to deploy
the three new plants as early as in August 2010.
As of June 30, 2009, "Artsakh HPP" ojsc’s assets totaled AMD 7.6 bln,
its equity capital was about AMD 6.37 bln; net revenues for the first
half of 2009 exceeded AMD 126 mio. More financial data, as well as
information on the activities of the company and the prospectus can
be found at the company’s official website
The NASDAQ OMX Group, Inc. is the world’s largest exchange company. It
delivers trading, exchange technology and public company services
across six continents, and with over 3,900 companies, it is number
one in worldwide listings among major markets. NASDAQ OMX technology
supports the operations of over 60 exchanges, clearing organizations
and central securities depositories in more than 50 countries.
In January 2008, Nordic exchange operator OMX Group acquired 100%
of shares of the Armenian Stock Exchange (Armex) and the Central
Depository of Armenia (CDA). After the combination of NASDAQ and OMX
in February 2008, Armex and CDA have become fully owned by the NASDAQ
OMX Group, Inc.
On January 27, 2009, "Armenian Stock Exchange" ojsc was officially
renamed as "NASDAQ OMX Armenia" ojsc. On June 5, 2009, "NASDAQ OMX
Armenia" ojsc became the owner of 100% of the shares of the "Central
Depository of Armenia" ojsc