Araratbank’s 4th issue corporate bonds listed at NASDAQ OMX Armenia stock exchange

30.07.2011 00:50
Araratbank’s 4th issue corporate bonds listed at NASDAQ OMX Armenia stock exchange
YEREVAN, 29 Julia. / ARKA /. Araratbank’s corporate bonds of the fourth issue were listed at NASDAQ OMX Armenia stock exchange, NASDAQ OMX Armenia CEO, Karen Zakarian, said today. On July 11, 2011 Araratbank completed the process of placing corporate bonds of the fourth issue worth 250 million drams. From June 20 to July 11 the bank issued and placed 25,000 bonds, which were purchased by 11 legal persons and 183 individuals. Renesa investment company acted as the market maker.
"By its active participation in the corporate bonds market Araratbank rejects the view that the Armenian capital market does not offer favorable development conditions," Zakarian said.
Araratbank deputy executive director David Harutyunyan said immediately after the listing of bonds a 30 million dram transaction was made. He said the bank has been engaged in corporate bonds issuance since 2006, which is unprecedented for the banking sector in Armenia.
Some 74.18 percent in Araratbank is owned by Barsegh Beglarian, the owner of Flash oil trader, 25% is owned by EBRD. Araratbank’s assets as of June 30, 2011 amounted to 68.4 billion drams, the liabilities to 57.2 billion drams. In the first half of 2011 its net profit amounted to 1.106 million drams, a 78% rise from a year before and a 61% rise from the projected figure. ($ 1 - 364.42 AMD). M.M. -0-

YEREVAN, 30 Julia. / ARKA /. Araratbank’s corporate bonds of the fourth issue were listed at NASDAQ OMX Armenia stock exchange, NASDAQ OMX Armenia CEO, Karen Zakarian, said today. On July 11, 2011 Araratbank completed the process of placing corporate bonds of the fourth issue worth 250 million drams. From June 20 to July 11 the bank issued and placed 25,000 bonds, which were purchased by 11 legal persons and 183 individuals. Renesa investment company acted as the market maker.

"By its active participation in the corporate bonds market Araratbank rejects the view that the Armenian capital market does not offer favorable development conditions," Zakarian said.

Araratbank deputy executive director David Harutyunyan said immediately after the listing of bonds a 30 million dram transaction was made. He said the bank has been engaged in corporate bonds issuance since 2006, which is unprecedented for the banking sector in Armenia.

Some 74.18 percent in Araratbank is owned by Barsegh Beglarian, the owner of Flash oil trader, 25% is owned by EBRD. Araratbank’s assets as of June 30, 2011 amounted to 68.4 billion drams, the liabilities to 57.2 billion drams. In the first half of 2011 its net profit amounted to 1.106 million drams, a 78% rise from a year before and a 61% rise from the projected figure. ($ 1 - 364.42 AMD).  -0-


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