Armenbrok announces completion of first IPO by Artsakh hydro power

PanARMENIAN.Net - OJSC Armenbrok has announced about completion of the first initial public offering (IPO) by OJSC Artsakh Hydro Power, press office of the investment company reports.



Reportedly, Artsakh hydro power issued 861 652 registered shares with total amount of AMD 904 634 600. Currently NASDAQ OMX Armenia started the preparation of papers and documents necessary for listing of the shares. The nominal value of one issued share is AMD 1050.



The Armenbrok OJSC is a consultant and underwriter for the issue. Special group has been formed, which included the Armenbrok investment company.



The issue of shares on the Armenian market is the first, unprecedented large-scale public investments program. The program allows residents and foreign citizens and organizations to effectively invest available assets and enjoy all rights and privileges, press office of Armenbrok reports.



Physical and juridical persons from Armenia, the Nagorno-Karabakh Republic (NKR), U.S., Switzerland, France, Slovakia, Austria, Russia, Iran, UAE participated in the Initial Public offering. Such a wide geography testifies, that world business community is familiar with NKR and its potential.



The funds will be directed to the construction of three small hydro-powers in NKR, on the River Tartar. The new Hydro powers will satisfy 85 per cent of the NKR's energy needs. The Initial public offering is part of the reforms being implemented by the NKR Government in the energy industry and aimed at ensuring country's energy security and independence.



The Artsakh Hydro Power OJSC is a leading energy-generating enterprise in Nagorno Karabakh, which currently satisfies 40 to 60 per cent of the country's electric energy demand. The company generates energy with the help of Sarsang Hydro Power, located in Sarsang reservoir. The designed capacity of the Sarsang Hydro Power is 50MW, its annual energy output being 60-140mln kwh.



The Armenbrok OJSC is a specialized investment company of the Armenian capital market. It started operating 14 years ago. The company provides the full range of investment services and consultations, including placement of securities.
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