Artsakh Hydropower Station IPOs will attract investors and promote NKR economy development

PanARMENIAN.Net - "Primary public subscription to Artsakh Hydropower Station shares is an unprecedented event which, I'm confident, will strengthen NKR economy," NKR Prime Minister Ara Harutyunyan stated at the official presentation of Artsakh Hydropower Station IPO subscriptions. According to him, the program has been the most significant investment project of post-war period, a result of lengthy negotiations with major investors.



Being in possession of significant water and energetic recourses, Karabakh was deprived of investment possibilities because of major investors' distrust and apprehensions, absence of international programs, low possibilities of local entrepreneurs, absence of business projects and efficient management. "The project is a good chance for those of our compatriots who're willing to participate and invest in NKR economy development."



According to recent data, IPO subscribers in NKR comprised 200, total shares value amounted USD 400 million



Primary share issue totaling AMD3,45 billion was effected by Artsakh Hydropower Station Public Corporation, with Armenbrok Public Corporation serving as consultant and emission underwriter. 3285715 shares were issued at AMD1050 per share.



Artsakh Hydropower Station is one of the leading companies in the energy sector of Nagorno- Karabakh which at present satisfies only 40-60 % of the needs of NKR's electric power system. The means gained through share issue will be used for the construction of three small Hydro Power Stations in NKR on the Tartar river. The new Hydro Power Stations will help cover more than 85% of domestic needs in NKR's Energy Sector.