Armenian government to auction companies with state capital

11.11.2016 11:34
Armenian government to auction companies with state capital

YEREVAN, November 10. /ARKA/. The government of Armenia will put up companies with state capital to public auctions, Prime Minister Karen Karapetyan told a Cabinet meeting today. Karapetyan told the head of the Department of State Property Management to develop and submit proposals for the privatization of state-owned companies and companies with state shares, which are not included in the privatization list, through open and public auctions, or public offering via the stock exchange.

"I think there is no need to explain that we want this way to activate the stock exchange and create an appropriate platform, and raise also the level of management of these companies," - said Karapetyan.
The Prime Minister said that a similar proposal was sent to all heads of communities to auction various facilities owned by their communities or sell them through transparent procedures.

Karapetyan stressed the importance of such a decision, adding that "the private manager is better than a government one - it is a dogma, and we have to move to it."

According to NASDAQ OMX Armenia stock exchange data,  a total of 1.3 billion drams worth transactions were effected there in the first 9 months of 2016, down form 3.9 billion drams in the same period last year, while the amount of deals with corporate bonds amounted to 973.8 million drams up from  415.7 million drams in the same period last year. -0--


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