YEREVAN, August 2. /ARKA/. Stock market in Armenia has great capacity for development, Karen Zakaryan, acting director general of NASDAQ OMX Armenia Stock Exchange, said Tuesday answering to ARKA News Agency’s question.
“NASDAQ OMX Armenia provides a real opportunity and capacity to develop our stock market,” he said.
Zakaryan said that startup issuers need to have good credit records. That is why it would be easier to start by issuing corporate bonds before embarking on stock deals.
They should first win confidence for issuing and placing stocks.
At the same time, Zakaryan agreed that highly monopolized economy can hobble development of the stock market, but added that even under such circumstances NASDAQ OMX Armenia Stock Exchange is able to provide start-up companies with all the conditions necessary for issuing stocks.
Twelve stocks and six corporate bonds have been listed at NASDAQ OMX Armenia as of August 2.
Securities transactions worth AMD 169.8 million effected at the stock exchange in June (9.7% growth, compared with May).
Deals on corporate bonds totaled AMD 48.7 million in June 2011 and made up 28.7% of total amount of deals effected here over this month.
Transactions on government bonds amounted to AMD 24 million (14.1% of total amount).
Stock deals amounted to AMD 97.1 million (57.2%) in June 2011.
NASDAQ OMX Armenia (former Armenian Stock Exchange, Armex), was established in 2001 as a voluntary merger of 21 broker (dealer) companies.
In January 2008, Nordic exchange operator OMX Group acquired 100% of shares of the Armenian Stock Exchange (Armex) and the Central Depository of Armenia (CDA).
After NASDAQ and OMX merged in March 2008, Armex and CDA have become fully owned by the NASDAQ OMX Group, Inc.
On January 27, 2009, Armenian Stock Exchange was renamed NASDAQ OMX Armenia. ( $1 = AMD 363.48). –0—
