Araratbank issues first nominal non-documentary shares

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10.01.2008, 02:30

For the first time, the Araratbank CJSC has issued 76,300 nominal non-documentary shares. The principal value of the shares is AMD 5,000, the flotation value totaling AMD 5,900, the bank’s press service reports.

YEREVAN, January 9. /ARKA/. For the first time, the Araratbank CJSC has issued 76,300 nominal non-documentary shares. The principal value of the shares is AMD 5,000, the flotation value totaling AMD 5,900, the bank’s press service reports.

The stock flotation was scheduled for December 17, 2007 to January 21, 2008. However, by December 29, 2007 all the shares were placed and demand exceeded offer. As a result of the bids, the Araratbank acquired 83 new shareholders.

On December 17, 2007, the bank announced about flotation of nominal non-documentary shares for the total of AMD 381.5mln by direct public offer (DPO).

The Araratbank (representative of the Armsvyaz Bank) was established on September 2, 1991 and was licensed on October 31, 1996. In August 2007, the bank was reorganized into an OJSC. The Araratbank’s absolute shareholder is the Flash Company.

The bank’s assets totaled AMD 16.4bln, the capital amounting to AMD 4.5bln. The bank’s profit totaled AMS224.8bln in January-September 2007. Z. Sh. –0--

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