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ARTSAKH HPP TO MAKE FIRST IPO IN ARMENIA
ARKA
March 3, 2009
YEREVAN, March 3. /ARKA/. The Artsakh HPP OJSC will make the first
initial public offering (IPO) to the amount of 3.45bln AMD in Armenia.
The Armenbrok OJSC, consultancy and underwriter for the issue,
reported that Artsakh HPP will issue 3,285,715 shares, the nominal
value of one share being 1,050 AMD.
The funds will be directed to the construction of three small
hydro-power plants in the Nagorno-Karabakh Republic (NKR), on the
River Tartar. The new HPPs will satisfy 85% of the NKR's energy needs.
The IPO is part of the reforms being implemented by the NKR Government
in the energy sector and aimed to ensure the country's energy security
and independence.
The issue of shares on the Armenian market is the first, unprecedented
large-scale public investments program. The program allows residents
and foreign citizens and organizations to effectively invest spare
funds and enjoy all the rights and privileges.
The issue will be floated in conformity with the Armenian
legislation. The prospectus is to be registered by the Central Bank
of Armenia (CBA). After the issue has been completed, the company
will apply to the NASDAQ OMX Armenia for listing of its shares.
The Artsakh HPP OJSC is one of the leading energy-generating companies
in the NKR., which currently satisfied 40-6- per cent of the country's
energy needs. The company generates energy by means=2 0of Sarsang
Hydro. The designed capacity of the HPP is 5MW, its annual energy
output being 60-140mln kwh.
The Armenbrok OJSC is one of the leading specialized investment
companies on the Armenian capital market. It launched its activities 14
years ago. The company provides the full range of investment services,
including the placement of securities and business consultations. The
company's total capital exceeds 1.1bln AMD.
ARKA
March 3, 2009
YEREVAN, March 3. /ARKA/. The Artsakh HPP OJSC will make the first
initial public offering (IPO) to the amount of 3.45bln AMD in Armenia.
The Armenbrok OJSC, consultancy and underwriter for the issue,
reported that Artsakh HPP will issue 3,285,715 shares, the nominal
value of one share being 1,050 AMD.
The funds will be directed to the construction of three small
hydro-power plants in the Nagorno-Karabakh Republic (NKR), on the
River Tartar. The new HPPs will satisfy 85% of the NKR's energy needs.
The IPO is part of the reforms being implemented by the NKR Government
in the energy sector and aimed to ensure the country's energy security
and independence.
The issue of shares on the Armenian market is the first, unprecedented
large-scale public investments program. The program allows residents
and foreign citizens and organizations to effectively invest spare
funds and enjoy all the rights and privileges.
The issue will be floated in conformity with the Armenian
legislation. The prospectus is to be registered by the Central Bank
of Armenia (CBA). After the issue has been completed, the company
will apply to the NASDAQ OMX Armenia for listing of its shares.
The Artsakh HPP OJSC is one of the leading energy-generating companies
in the NKR., which currently satisfied 40-6- per cent of the country's
energy needs. The company generates energy by means=2 0of Sarsang
Hydro. The designed capacity of the HPP is 5MW, its annual energy
output being 60-140mln kwh.
The Armenbrok OJSC is one of the leading specialized investment
companies on the Armenian capital market. It launched its activities 14
years ago. The company provides the full range of investment services,
including the placement of securities and business consultations. The
company's total capital exceeds 1.1bln AMD.