Artsakh HPP OJSC common stocks to be included in NASDAQ OMX Armenia B list

PanARMENIAN.Net - Starting October 29, 2009, common stocks of "Artsakh HydroPower Plant" open joint stock company ("Artsakh HEK" ojsc) will be included in the B list of NASDAQ OMX Armenia. A total of 5,962,074 stocks of the company with nominal value AMD 1,000 will thus become listed and traded at the exchange under ticker symbol AHEK.  

"Artsakh HEK" ojsc is a major power production company in Nagorno-Karabakh Republic (NKR), which currently satisfies around 50% of NKR's total electricity needs. The company operates  Sarsang hydropower plant, the largest in NKR, which has an average annual output of 90-140 mln kWh. The major shareholder of "Artsakh HEK" ojsc is the Government of the NKR, which holds 85.54% of the shares of the company; about 6% of the company's shares belong to "VPBP" cjsc registered in the NKR.  



Early in 2009, "Artsakh HEK" ojsc entered the capital market with the first initial public offering in Armenia allocating 862,074 newly issued common shares of the company to 1,111 local and foreign investors. The newly raised capital is to be used by the company to build three modern  power plants with capacity of up to 5 MW each on the Tartar river, the largest in NKR. "Artsakh HEK" plans to deploy the three new plants as early as in August 2010.  



As of June 30, 2009, "Artsakh HPP" ojsc's assets totaled AMD 7.6 bln, its equity capital was about AMD 6.37 bln; net revenues for the first half of 2009 exceeded AMD 126 mio. More financial data, as well as information on the activities of the company and the prospectus can be found at the company's official website www.artsakhhpp.com. 

 

The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, and with over 3,900 companies, it is number one in worldwide listings among major markets. NASDAQ OMX technology supports the operations of over 60 exchanges, clearing organizations and central securities depositories in more than 50 countries.  



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 the combination of NASDAQ and OMX in February 2008, Armex and CDA have become fully owned by the NASDAQ OMX Group, Inc.



On January 27, 2009, "Armenian Stock Exchange" ojsc was officially renamed as "NASDAQ OMX Armenia" ojsc. On June 5, 2009, "NASDAQ OMX Armenia" ojsc became the owner of 100% of the shares of the "Central Depository of Armenia" ojsc.