YEREVAN, June 15. /ARKA/. Araratbank will conduct two IPOs, one of which to the tune of $40-50 million, Araratbank board chairman Ashot Osipyan told journalists on Friday. He said the Yerevan-based bank is going to update the electronic platform for IPO and plans to conduct a local IPO in late September this year.

He said the second IPO will be conducted abroad in May 2019 in the amount of around $40-50 million.
According to him, the IPOs are intended to increase the bank’s shares in the local market, and also raise funds from the external market.

Araratbank, established in 1991 is owned by Flash oil trader (72.73%), EBRD (18.33 %%) and RURAL IMPULSE FUND II SA SICAV SIF -8.58%. ($ 1- 482.73 drams). -0-