YEREVAN, November 23. /ARKA/. Armenia’s National Mortgage Company said it will conduct its first initial public offering (IPO) on November 24 at Nasdaq OMX Armenia stock exchange.

The first IPO in Armenia was conducted by Artsakh HPP energy generating company in early 2009, by selling 862,074 shares to 1,111 local and foreign investors.

The National Mortgage Company was established June 16, 2009. According to ARKA news agency’s data, the company's assets in late September this year stood at 14.7 billion drams, liabilities at more than 6.1 billion drams and its total capital was more than 8.5 billion drams. In the first nine months of 2011 it earned 251.1 million drams in net profits.($1-384.34 drams). -0-