YEREVAN, December 9. /ARKA/. Armenian trading network STAR plans to conduct the first IPO in the second half of 2012, said Executive Director of the company Vahan Kerobyan in the interview to the newspaper “Orakarg”.
He said that public placement of shares will take place in Armenia, and listing of company’s shares will be implemented in NASDAQ OMX Armenia stock exchange.
“Today the stock exchange offers good conditions. Being in the Armenian platform, we will become available for other platforms and foreign investors can even buy and sell our shares. In the capital market we see bright future”, said Kerobyan.
Conduction of IPO will help to strengthen the capital of the company and diversify it.
“We hope that shareholders of the company will become also our clients who are interested in the development of trading network STAR”, he said.
Today trading network STAR serves daily about 50 thousand buyers. Its turnover in 2010 was 18 billion drams.
100% of trading network STAR belongs to the company Viest Assets Ltd (registered in British Virgin Islands). Former shareholders were EBRD with the share of 28.3% and businessmen Henrich Zakharyants (71.7% of shares).
On December 1, 2011, Armenian trading network STAR completed the process of absorption of chain of supermarkets “Fresh”. After merging, total number of supermarkets STAR will be 28, and the share of the company in the market – about 40% of regulated retail. ($1-383.54 drams).-0-
