Sun, 26 October
16.1 C
Yerevan
USD: 383.05 RUB: 4.73 EUR: 444.80 GEL: 141.19 GBP: 510.03

Armenia’s national mortgage company planning second public offering for 2012

YEREVAN, November 24. /ARKA/. Armenia’s National Mortgage Company is planning the second public offering for 2012, Mher Yedigaryan, director general of the company, said on Thursday.

The company intends to offer bonds worth AMD 2.5 to 3 billion.

Armenia’s National Mortgage Company conducted its first initial public offering (IPO) today at NASDAQ OMX Armenia stock exchange.

Today the National Mortgage Company placed nominal discount bonds worth AMD 1 billion.

The issue amounted to AMD 954,723,223.82. Bids at the auction totaled AMD 1,442,956,491.95.

Yield of highest accepted bids was 9.63%, and W.A. yield of successful bids was 9.38%. Maturity term was six months.

“Capital market instruments will become key financing sources to us,” Yedigaryan said. “It means that public offerings will be periodical.”
Interest rates on loans are expected to go down in Armenia along with development of the national economy, he said.

The government plans to narrow budget deficit in 2012, he said, and this will impact the yield of government bonds.

National Mortgage Company is a universal credit organization established in 2009.

According to ARKA News Agency’s data, the organization’s assets totaled AMD 14.7 billion and liabilities AMD 6.1 billion in late September 2011.
Its total capital amounted to AMD 8.5 billion and the net profit gained for nine months of this year AMD 251.5 million. ($1 – AMD 383.36). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img