Nasdaq OMX Armenia lists Inecobank bonds

YEREVAN, May 11. /ARKA/. Starting May 11, 2009, nominal bonds issued by Inecobank closed joint stock company will be listed and included in Bbond list of NASDAQ OMX Armenia stock exchange.

According to the stock exchange, the issue comprises 7,000 bonds with nominal value AMD 50,000, maturity 365 days and annual yield of 9.5%. The issue will be traded under ENECB1 ticker symbol.

Inecobank CJSC was established in February 1996 and is currently offering the full spectrum of banking services through its head office and branches in Yerevan and regions of Armenia.

Among major foreign shareholders of the bank are KfW bank group member German investment company DEG (Deutsche Investitions- Und Entwicklungsgesellschaft) and International Financial Corporation. As of March 31, 2009, total capital of the bank amounted to about AMD 9.36 billion, and total assets exceeded AMD 48.4 billion.

Since February 2009, Inecobank CJSC is a member of NASDAQ OMX Armenia with access to all exchange markets, including corporate and government securities, REPO, and currency.

The NASDAQ OMX Armenia OJSC (“Armenian Stock Exchange” OJSC until January 27 2009) was established in 2001 as a self-regulating organization by the joining of 21 broker companies. In early-November 2007 the stock exchange was reorganized into an open joint stock.

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).

The license for auctions on currency supply/sale was issued to NASDAQ OMX by the Central Bank of Armenia on November 7 2005, and transactions of foreign exchange officially started on November 15, 2005.

On May 8 2009, 22 securities (10 shares and 12 bonds) have undergone listing on NASDAQ OMX Armenia while the capitalization was 53.2bln AMD.

Currently 26 companies, including 19 banks are members of NASDAQ OMX Armenia stock exchange. ($1 – 372.47AMD). G. S. –0--