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Trade Network Star May Be First Armenian Company To Go Public

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  • Trade Network Star May Be First Armenian Company To Go Public

    TRADE NETWORK STAR MAY BE FIRST ARMENIAN COMPANY TO GO PUBLIC

    Interfax
    Dec 1 2011
    Russia

    Armenia's CJSC Star Divide, which has the country's biggest network
    of supermarkets, plans to conduct an initial public offering for
    late-2012, and would be the first Armenian company to do so.

    The IPO would involve 10%-20% of the company's stock, Star Divide
    Director Vaan Kerobyan told reporters on Thursday. A final decision
    on the stake has yet to be made, he said. "We are still discussing
    this question. Having an IPO is itself very important, as we are
    trying to become a public company," he said.

    CJSC ArmRosGazprom had similar plans, but the 2009 crisis ruined them.

    Star Divide was set up in March of 2006. It got a new owner in
    mid-2011 - Viest Assets Ltd., which is registered in the British Virgin
    Islands. That company bought 100% of the stock from the European Bank
    for Reconstruction and Development (28.3% of shares) and entrepreneur
    Genrikh Zakharyants (71.7%). In October, Star announced the completion
    of the purchase of the trading network Fresh.

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