Central bank of Armenia registers prospectus of securities issuance by ‘’Araratbank’’ OJSC
12.12.2007,
19:18
The Central Bank of Armenia registered the Declaration about registration of securities including the prospectus of issuance of ‘’Araratbank’’ Open Joint Stock Company (OJSC).
YEREVAN, December 12. /ARKA/. The Central Bank of Armenia registered the Declaration about registration of securities including the prospectus of issuance of ‘’Araratbank’’ Open Joint Stock Company (OJSC). The decision was made at the sitting of Board of Directors of the Central Bank of Armenia (CBA) presided over by the President of CBA Tigran Sargsian.
Earlier, the Executive Director of ‘’Araratbank’’ Ashot Osipian reported the intention of the bank to enter the IPO market in autumn this year. He also pointed out the plans to implement IPO with volume constituting 5-10% of the bank’s capital in the first stage.
‘’Araratbank’’ Open Joint Stock Company (legal successor of ‘’Armsviaz’’ bank) was founded on 02.09.1991. On October 31 1996 the bank received banking license N4. In August this year the bank was reorganized to an open joint stock company.
In May Araratbank completed placement of corporate coupon bonds. The corporate coupon bonds of Araratbank underwent listing on the Armenian Stock Exchange under the highest category – Abond. The number of the bonds issued was 25,000, the circulation period – 12 months, nominal value – 10,000 Drams with 8% annual yield.
As of the end of September, the bank’s assets totalled 16.4bln Drams, its capital was 4.5bln Drams and the profit for January-September was 224.8mln Drams. ‘’Ararat’’ bank has 10 branches functioning in the country. ($1=303.50Drams). –0--
Earlier, the Executive Director of ‘’Araratbank’’ Ashot Osipian reported the intention of the bank to enter the IPO market in autumn this year. He also pointed out the plans to implement IPO with volume constituting 5-10% of the bank’s capital in the first stage.
‘’Araratbank’’ Open Joint Stock Company (legal successor of ‘’Armsviaz’’ bank) was founded on 02.09.1991. On October 31 1996 the bank received banking license N4. In August this year the bank was reorganized to an open joint stock company.
In May Araratbank completed placement of corporate coupon bonds. The corporate coupon bonds of Araratbank underwent listing on the Armenian Stock Exchange under the highest category – Abond. The number of the bonds issued was 25,000, the circulation period – 12 months, nominal value – 10,000 Drams with 8% annual yield.
As of the end of September, the bank’s assets totalled 16.4bln Drams, its capital was 4.5bln Drams and the profit for January-September was 224.8mln Drams. ‘’Ararat’’ bank has 10 branches functioning in the country. ($1=303.50Drams). –0--
