Armenian stock exchange expecting new local companies’ ipos in 2012

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Economy

01.03.2012, 10:06

NASDAQ OMX Armenia is expecting new companies’ initial public offerings (IPO) in 2012, NASDAQ OMX Armenia Stock Exchange CEO Konstantin Saroyan said in an interview with ARKA News Agency.

YEREVAN, February 29. /ARKA/. NASDAQ OMX Armenia is expecting new companies’ initial public offerings (IPO) in 2012, NASDAQ OMX Armenia Stock Exchange CEO Konstantin Saroyan said in an interview with ARKA News Agency.

“We are now negotiating with some companies and market players over IPOs and coordinating this complicated process,” he said. “We hope we’ll have one or two issues this year.”

Saroyan said that 2012 will be a crucial year for the stock market. “Every condition is created for companies, and those companies listed here will enjoy tax relief for three years,” he said in his interview. “We should understand, however, that unlike loan-extending process, which can last two weeks, IPO process takes six to nine months.”

The first IPO in Armenia was made by Artsakh HEK in early 2009. The IPO resulted in acquisition of the company’s 862, 074 stakes by 1,111 local and foreign investors.

In 2011, National Mortgage Company made its IPO at NASDAQ OMX Armenia.

Representatives of STAR, a chain of supermarkets voiced intention to made IPO in 2012, and Armenian Development Bank is planning its initial public offering for 2013.-0---

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