YEREVAN, June 13. /ARKA/. Armeconombank has announced today an open subscription on the 13th issue of its shares,  which are listed at NASDAQ OMX Armenia stock exchange ‘B’ platform. The Yerevan-based bank said the decision was prompted by the previous successful placement.
According to a bank’s press release,  the face value of the total issue is 856,165,000 drams,  while the market value is 5,000,003,600 drams.

The face  value of one share is 2,500 drams, the placement cost is 14,600  drams, the total number of ordinary shares is  342, 466 and the  planned placement period is from June 17 to  September 30.
The electronic version of the prospectus is available at Armeconombank’s website in the section " reports / prospectus.’

For more information, one needs to contact the head office of Armeconombank at  23/1, Amiryan street, Yerevan or any branch of the bank, as well as call by phone +374 8000 8686, +374 510 910.

As a result of  the 12th issue  the number of shareholders increased by 1,600 to the overall 3.014 people, which demonstrates the growing confidence in the bank, according to the press release.
The bank also said an annual meeting of shareholders slated for  June 24 will consider  payment of dividends in the amount of 14% for  2015.

Armeconombank was established on August 26, 1991. The EBRD holds 20% of the bank's shares, 22.6% belong to Saribek Sukiasyan, 19.5% to Khachatur Sukiasyana and 15.3% to Robert Sukiasyan.

In the first quarter of 2016 the bank’s  assets stood at  108.2 billion drams, liabilities – at 88.5 billion drams, total capital – at 19.7 billion drams, the authorized capital –at  6.33 billion drams, credit investments – at 57. 2 billion drams. The bank earned also  104.5 million drams in net profit.

The bank runs 41 branches -20 in Yerevan, 20 - in the regions and 1 - in Nagorno-Karabakh. ($ 1- 479.16 drams). -0-