YEREVAN, October 28. /ARKA/. Some 400 individual investors and corporate entities have acquired 4.5 billion drams worth shares of Acba bank, which it issued in September 2021, the bank’s press office said today.

According to it, it is one of the largest share placements in Armenia. The placement of such a number of shares ensures their further listing on the liquid site of the Armenian Securities Exchange.

“Why become a shareholder of Acba bank? There are two reasons for an investor: financial and non-financial. The financial objectives of the acquisition are very specific: to obtain stable and long-term income. In a non-financial context, we give people the opportunity to become shareholders and participants in one of the best companies in Armenia, even to participate in its management. Any shareholder can participate in its management,” said Acba Bank CEO Hakob Andreasyan.

He also explained why the bank took this step.

“Firstly, we have been working for 25 years with an army of clients who considered this bank their own, contributing to our strengthening. We had to give them the opportunity to purchase shares at book value. I am glad that the number of our shareholders is growing, and now the process is proceeding very positively. We feel obliged to work even better, be more transparent and manage our financial group more effectively,” Andreasyan emphasized.

Acba bank is controlled by the Central Bank of Armenia. ($1 - 477.31 drams) -0-