YEREVAN, April 20. /ARKA/. Armenia’s natural gas operator ArmRosGazprom (ARG) is not planning an IPO any time soon, ARG deputy CEO Vahagn Arakelian said today.
Speaking to journalists on the sidelines of the European Business Congress’ gathering in Yerevan, he said it was still early to talk about an ARG IPO.
“Making an IPO in 2010 and 2011 is impossible, because an IPO is possible when the market is prepared for it, which is not the case now,’ he said.
ARG has a monopoly over the distribution of natural gas in Armenia which is mainly imported from Russia via Georgia. The Armenian government owns 20% of ARG, and the remaining 80% is owned by Russia’s Gazprom. -0-
