YEREVAN, November 24. /ARKA/. Armenia’s National Mortgage Company is planning the second public offering for 2012, Mher Yedigaryan, director general of the company, said on Thursday.

The company intends to offer bonds worth AMD 2.5 to 3 billion.

Armenia’s National Mortgage Company conducted its first initial public offering (IPO) today at NASDAQ OMX Armenia stock exchange.

Today the National Mortgage Company placed nominal discount bonds worth AMD 1 billion.

The issue amounted to AMD 954,723,223.82. Bids at the auction totaled AMD 1,442,956,491.95.

Yield of highest accepted bids was 9.63%, and W.A. yield of successful bids was 9.38%. Maturity term was six months.

“Capital market instruments will become key financing sources to us,” Yedigaryan said. “It means that public offerings will be periodical.”
Interest rates on loans are expected to go down in Armenia along with development of the national economy, he said.

The government plans to narrow budget deficit in 2012, he said, and this will impact the yield of government bonds.

National Mortgage Company is a universal credit organization established in 2009.

According to ARKA News Agency’s data, the organization’s assets totaled AMD 14.7 billion and liabilities AMD 6.1 billion in late September 2011.
Its total capital amounted to AMD 8.5 billion and the net profit gained for nine months of this year AMD 251.5 million. ($1 – AMD 383.36). -0-