Corporate bond market capitalization may hit 70bln drams in 2014 – NASDAQ OMX Armenia

Corporate bond market capitalization may hit 70bln drams in 2014 – NASDAQ OMX Armenia

YEREVAN, February 19. /ARKA/. Capitalization of Armenian corporate bond market may reach 70 billion drams in 2014, general director of NASDAQ OMX Armenia Konstantin Saroyan said in his interview to ARKA.

Capitalization of corporate bonds amounted to 61.7 billion drams as of the end of 2013, an increase of 15.68% compared to 2012 level, Saroyan said.

“It is too early to make plans as we speak mainly about shares, but, I believe, we will make it up to 70 billion drams”, Saroyan said.

According to Saroyan, the increase will most probably be recorded in corporate securities that are expected to grow three times as much both in terms of turnover and volume.

Saroyan has not ruled out an Armenian company will enter the IPO market in 2014. Negotiations are permanently under way, and there are some 2-3 companies interested in it at any point, but then the interest is lost for one reason or another, he said.

Saroyan said the main problem is that companies lack a long-term strategy.

“In short term people feel it is good, but when they start calculating they understand it is of no benefit in short term, and they do not have a long-term strategy. The interest is fading, but it is for the time being”, Saroyan said.

NASDAQ OMX Armenia (former Armenian Stock Exchange, Armex), was established in 2001 as a voluntary merger of 21 broker (dealer) companies. In November 2007 the stock exchange was reorganized into OJSC. OMX (current NASDAQ OMX) is a holder of 100% stock of NASDAQ OMX Armenia.

The stock exchange obtained 100% stock of Armenia’s Central Depository. NASDAQ OMX Armenia received a trade license from CBA on November 7, 2005. The trades on the stock exchange were officially launched on 15 November 2005. ($1=412.09drams). --0–

14:42 19.02.2014

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