Central Bank Of Armenia Registers Offering Prospectus Of Artsakh Hydropower Plant

05.09.2011 21:56
Central Bank Of Armenia Registers Offering Prospectus Of Artsakh Hydropower Plant

YEREVAN, September 5. / ARKA /. The Central Bank of Armenia has registered today the offering prospectus of Artsakh Hydropower Plant (HPP) ojsc, which plans to place 3,673,926 common shares, ArmSwissbank acting as the principal underwriter of the offering and the settlement bank, said in a press release.

According to it, the value of each share is 1,110 drams. The placement will be effected via pre-emptive right allowing company’s shareholders to acquire new shares. To use this right the shareholders must notify the bank before October 3.

The pres release said the shares which will not be placed by pre-emptive right, will be made available through free subscription, which will be held from 4 to 24 October. The prospectus is available in the offices of Artsakh Hydropower Plant and at ArmSwissbank and on their official website.

Artsakh HPP conducted its first public offering of shares on March 3-20 2009 when 862,074 shares, each worth 1,050 drams, were placed.

Artsakh HPP is the largest company in the Nagorno-Karabakh Republic. It produces and sells electricity meeting nearly 50% of its in Nagorno-Karabakh Republic. The company operates Sarsang, Trghe-1 hydraulic plants and is set to commission three new hydropower stations. ArmSwissbank is fully owned by Vartan Sermakes. -0-


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