Hrazdan power company withdraws stock from NASDAQ OMX Armenia

24.09.2015 18:46
Hrazdan power company withdraws stock from NASDAQ OMX Armenia

YEREVAN, September 24. / ARKA /. The Hrazdan Power Company, the only shareholder of which is the Russian energy holding Inter RAO, withdrew its stocks from being traded at NASDAQ OMX Armenia stock exchange on September 23.

The common nominal stocks issued by Hrazdan Power Company ojsc (HRPC) were admitted to trading on free C market of NASDAQ OMX Armenia in 2011 May. A total of 1,597,430 stocks of the company with nominal value of AMD 10,000 were traded under ticker symbol HRPC.

The company told ARKA that the move was prompted by additional reporting and high costs. Asked whether the shareholder of the company plans to sell the utility, an official of the company said there were no such plans at the moment.

Hrazdan Power Company it is one of the six major energy generating companies in Armenia. In 2014 it accounted for 12.3% of the total electricity produced in the country.

NASDAQ OMX Armenia is the new name of the Armenian Stock Exchange ojsc (renamed on January 27, 2009), however, it is also used to refer jointly to the stock exchange and the Central Depository of Armenia ojsc (CDA), as the both companies have been members of the NASDAQ OMX Group, Inc. since early 2008.

NASDAQ OMX Armenia and the CDA are the major securities market infrastructure institutions in Armenia. Since their inception in 2000, both companies had operated as self-regulatory organizations established by member broker companies, up until demutualization in 2007.

NASDAQ OMX Armenia is a part of the world’s largest exchange company, the NASDAQ OMX Group, Inc. In late June there were 16 companies listed at Nasadaq OMX Armenia.-0-


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