Armenbrok Armenian company places 861,652 common registered equities of Artsakh hydro power plant for 904.6mln drams
28.05.2009,
22:36
Armenbrok Armenian company placed 861,652 common registered equities of Artsakh Hydro Power Plant for a total of 904.6mln Drams thus completing the initial public offering (IPO) for Artsakh HPP, the press service of Amrenbrok ojsc reproted.
YEREVAN, May 28. /ARKA/. Armenbrok Armenian company placed 861,652 common registered equities of Artsakh Hydro Power Plant for a total of 904.6mln Drams thus completing the initial public offering (IPO) for Artsakh HPP, the press service of Amrenbrok ojsc reproted.
Currently arrangement of the listing application and the respective documentation for listing of Artsakh HPP stock on NASDAQ OMX Armenia stock exchange is underway. The price per equity is set at 1,050 Drams. Armenbrok company is the consultant and underwriter of the issue. Armswissbank also became a member of a placement group set up for the IPO.
Armenbrok reported that the issue and placement of these equities became the first public large-scale investment program on the Armenian capital market – unprecedented one in terms of the amount and number of participants.
1,023 investors participated in the placement, including individuals and legal entities from Armenia and the NKR, the USA, Switzerland, France, Slovakia, Australia, Russia, Iran, the UAE.
Involvement of these many countries points to awareness of foreign investors and international business about the Nagorno-Karabakh Republic and its efficient business environment.
Under the current crisis conditions and the declining of the world’s leading stock exchange indices, attraction of funds exceeding 900mln Drams can be considered a great success, says the report.
Artsakh Hydro Power Plant ojsc established on November 1 2007 is fully owned by the government of Nagorno-Karabakh Republic (NKR).
The company produces energy at Sarsang hydro power plant and sells it to Artsakhenergo cjsc, the only energy operator in the NKR, at a fixed price. Installed output of the hydro power plant is 50 megawatt; production capacity is 60-140mln kilowatt-hour energy per year.
Armenbrok ojsc is a leading specialized investment company on Armenian capital market. It has a 14-year experience on the market and provides the entire range of investment services, including placement of securities, and offers business consultation. Armenbrok ojsc with it capital exceeding 1.1bln Drams is currently one of the biggest investment companies in Armenia. ($1=370.89Drams). –0--
Currently arrangement of the listing application and the respective documentation for listing of Artsakh HPP stock on NASDAQ OMX Armenia stock exchange is underway. The price per equity is set at 1,050 Drams. Armenbrok company is the consultant and underwriter of the issue. Armswissbank also became a member of a placement group set up for the IPO.
Armenbrok reported that the issue and placement of these equities became the first public large-scale investment program on the Armenian capital market – unprecedented one in terms of the amount and number of participants.
1,023 investors participated in the placement, including individuals and legal entities from Armenia and the NKR, the USA, Switzerland, France, Slovakia, Australia, Russia, Iran, the UAE.
Involvement of these many countries points to awareness of foreign investors and international business about the Nagorno-Karabakh Republic and its efficient business environment.
Under the current crisis conditions and the declining of the world’s leading stock exchange indices, attraction of funds exceeding 900mln Drams can be considered a great success, says the report.
Artsakh Hydro Power Plant ojsc established on November 1 2007 is fully owned by the government of Nagorno-Karabakh Republic (NKR).
The company produces energy at Sarsang hydro power plant and sells it to Artsakhenergo cjsc, the only energy operator in the NKR, at a fixed price. Installed output of the hydro power plant is 50 megawatt; production capacity is 60-140mln kilowatt-hour energy per year.
Armenbrok ojsc is a leading specialized investment company on Armenian capital market. It has a 14-year experience on the market and provides the entire range of investment services, including placement of securities, and offers business consultation. Armenbrok ojsc with it capital exceeding 1.1bln Drams is currently one of the biggest investment companies in Armenia. ($1=370.89Drams). –0--
