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ARMENIA STARTS PRIVATIZING COMPANIES THROUGH AUCTIONS ON STOCK EXCHANGE
ARKA
September 23, 2009
Yerevan
YEREVAN, September 24. /ARKA/. On Wednesday, Armenian government
permitted to privatize six companies by selling their stocks through
auctions on NASDAQ OMX Armenia Stock Exchange.
Karine Kirakosyan, chief of the state property agency, named these
companies - the Urban Planning Institute, Atomservice Company,
Nedrolog, Yerevan Section of Water Supply System, as well as Kaputak
and Narek rest house.
"These companies have been selected as a result of discussions with
the stock exchange. Companies and their stocks were evaluated on the
stock exchange for selection. The privatization process will give
the great number of people room for participation", Kirakosyan said.
She said that all the companies to be put up for sale function and
bring profit.
However, she didn't indicate areas of their activities and the size
of the state participation.
In her words, the government approves the list of companies selected
by the agency and the stock exchange for privatization.
Kirakosyan said that before undergoing privatization process, companies
are transformed into open joint stock companies.
Under the government's decision, the privatization will be completed
within six months.
NASDAQ OMX Armenia (Armenian Stock Exchange OJSC until January 27,2009)
was founded in 2001 as a self-regulating organization, a voluntary
association of 21 b rokerage firms.
Early in November 2007, the stock exchange was transformed to an
OJSC. On January 7, 2008, OMX (at present NASDAQ OMX) became sole
owner of NASDAQ OMX Armenia and of the Central Depository of Armenia.
As of June 23, 2009, 11 shares and 12 corporate bonds were listed on
NASDAQ OMX Armenia.
The capitalization of the stock exchange was 50.3bln AMD. ($1 =
AMD 382.05).
ARKA
September 23, 2009
Yerevan
YEREVAN, September 24. /ARKA/. On Wednesday, Armenian government
permitted to privatize six companies by selling their stocks through
auctions on NASDAQ OMX Armenia Stock Exchange.
Karine Kirakosyan, chief of the state property agency, named these
companies - the Urban Planning Institute, Atomservice Company,
Nedrolog, Yerevan Section of Water Supply System, as well as Kaputak
and Narek rest house.
"These companies have been selected as a result of discussions with
the stock exchange. Companies and their stocks were evaluated on the
stock exchange for selection. The privatization process will give
the great number of people room for participation", Kirakosyan said.
She said that all the companies to be put up for sale function and
bring profit.
However, she didn't indicate areas of their activities and the size
of the state participation.
In her words, the government approves the list of companies selected
by the agency and the stock exchange for privatization.
Kirakosyan said that before undergoing privatization process, companies
are transformed into open joint stock companies.
Under the government's decision, the privatization will be completed
within six months.
NASDAQ OMX Armenia (Armenian Stock Exchange OJSC until January 27,2009)
was founded in 2001 as a self-regulating organization, a voluntary
association of 21 b rokerage firms.
Early in November 2007, the stock exchange was transformed to an
OJSC. On January 7, 2008, OMX (at present NASDAQ OMX) became sole
owner of NASDAQ OMX Armenia and of the Central Depository of Armenia.
As of June 23, 2009, 11 shares and 12 corporate bonds were listed on
NASDAQ OMX Armenia.
The capitalization of the stock exchange was 50.3bln AMD. ($1 =
AMD 382.05).