Sat, 14 June
24.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Araratbank mulls two simultaneous IPOs at NASDAQ OMX markets

YEREVAN, June 17. / ARKA /. Armenian Araratbank plans to make two simultaneous public offerings of its coupon bonds – one at NASDAQ OMX in Armenia, and the other possibly in Estonia, the bank’s Deputy Executive Director, David Harutyunyan said today.

“The bank plans to issue and offer new coupon bonds. We are now at trade marketing stage, conducting pre-marketing studies and considering the possibility of making an IPO through a NASDAQ OMX’s market”, he said.

He said the bank’s top managers had a meeting with NASDAQ OMX leadership in Estonia and plan to have similar meetings with leadership of other markets to explore the possibility of an IPO.

Araratbank, previously called Haykap Bank, was founded in 1991 and provides a full range of banking services to corporate, MSME and retail customers. The bank has established a reputation as a small but reliable and dynamically growing financial institution. EBRD holds 25% in Araratbank. The rest is held by Barsegh Beglarian, head of the biggest petrol importing company Flash. Araratbank joined NASDAQ OMX Armenia January 30, 2009.

According to ARKA data, as of March 31, 2011 the bank’s assets totaled 69.9 billion drams, the liabilities stood at 59.1 billion drams, the total capital was worth 10.8 billion drams, the authorized capital stock – 7.1 billion drams, its outstanding credit portfolio stood at 29.2 billion drams, liabilities to clients at 46 billion drams, and net income for the first quarter of 2011 was about 510.2 million drams. The bank operates 34 branches. ($ 1 – 375.67 AMD).-0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Acba Bank donates amd 130 million to Military Insurance Fund (video)

Acba bank and other members of the financial group - ACBA Leasing and Amundi-ACBA - have donated more than AMD 130 million to Armenia's Military Insurance Fund in recent months, the press service of the bank reported

High profitability of Armenian banks in 2024 was facilitated by growth in net interest income and low level of credit losses – Galstyan

High profitability was recorded in the banking system of Armenia at the end of 2024, which was facilitated by growth in net interest income and low level of credit losses, said Martin Galstyan, Chairman of the Central Bank of the Republic, presenting the financial stability report for 2024.

LATEST NEWS

spot_imgspot_imgspot_img