Tuesday, November 8 2011 15:09

Non-residents acquire nearly 70% of shares of additional issue of Artsakh HPP Company


ArmInfo. Artsakh HPP Company (Artsakh GES) has raised over 3.6 bln drams (over $10 million) from the market due to additional issue of shares, ArmSwissbank (underwriter and market maker of the company) told ArmInfo the IPO of the additional issue (the third in the succession) was over on October 24.

The company is going to spend the raised funds on new investment projects, in particular, to complete construction of small HPPs and launch construction of new ones, as well as to reconstruct Sarsang HPP, Mardakert region, NKR.

A total of 130 investors participated in the IPO, with 70% of them being non-residents. It is noteworthy that the big shareholder of the company, the NKR Government, has refrained from acquiring the third-issue shares. In fact, the government's share in the statutory capital fell to 47.8% with the private capital growing to 52.5% (over half are non-resident shareholders). The third-issue shares (3289926 shares) of Artsakh HPP will be quoted on the exchange in the B category. Thus, the shares quoted on the exchange will number 10650000. The purchase price is 1120 drams per share and the sale price is 1070 drams per share.

IPO of Artsakh HPP is the only case in the history of the equity market of Armenia. The first IPO of the company was in the spring of 2009. The company raised nearly 900 mln drams then. The Central Bank registered the issue prospectus of the second tranche of the company's shares in the amount of 1.4 bln on Nov 2 2010. In December the issue was fully placed.

ArmInfo's REFERENCE: Artsakh HPP OJSC is one of the leading companies in the energy sector of NKR covering over 60% of the demand in the country. The company invested the funds raised from the first two issues in construction of four HPPs, with one of them being put into exploitation in 2010. The other three are under construction.

By data of the company, Artsakh HPP's profit for the first half of 2011 totaled 221.172 mln drams. The statutory capital of the company comprises 736074 ordinary shares. The shares are quoted on the B category, ANEK.
POST A COMMENT
Input digits     


News
Expert casts doubt on origin of recent Azerbaijani gasoline import to  ArmeniaExpert casts doubt on origin of recent Azerbaijani gasoline import to  Armenia
Pashinyan one again thanked Aliyev at EAEU Supreme Council meetingPashinyan one again thanked Aliyev at EAEU Supreme Council meeting
First robotic surgery performed in ArmeniaFirst robotic surgery performed in Armenia
World Bank remains reliable strategic partner in Armenia`s  infrastructure development, says MinisterWorld Bank remains reliable strategic partner in Armenia`s  infrastructure development, says Minister
In Armenia`s interbank foreign exchange market from December 15 to  19, 2025, there was a decrease in dollar and ruble transactions, with  an increase in euro transactionsIn Armenia`s interbank foreign exchange market from December 15 to  19, 2025, there was a decrease in dollar and ruble transactions, with  an increase in euro transactions
Train loaded with  SOCAR petroleum products arrives in ArmeniaTrain loaded with  SOCAR petroleum products arrives in Armenia
RA Finance Minister, French Ambassador and AFD representative discuss  budget support programs RA Finance Minister, French Ambassador and AFD representative discuss  budget support programs 
RA Economy Minister: 22 railcars of Azerbaijani petroleum crossing  Armenian-Georgian borderRA Economy Minister: 22 railcars of Azerbaijani petroleum crossing  Armenian-Georgian border
Azerbaijani fuel import to Armenia  indicates  lack of economic  policy: David AnanyanAzerbaijani fuel import to Armenia  indicates  lack of economic  policy: David Ananyan
Fly Kish starts operating flights on route Tehran-Yerevan-Tehran Fly Kish starts operating flights on route Tehran-Yerevan-Tehran 
Analyst: EDB sees a possible slowdown in economic growth outside the country as the primary risk for the Armenian economy in 2026-2028Analyst: EDB sees a possible slowdown in economic growth outside the country as the primary risk for the Armenian economy in 2026-2028
Prime Minister: Train carrying petroleum products  heading from  Azerbaijan to ArmeniaPrime Minister: Train carrying petroleum products  heading from  Azerbaijan to Armenia
RA Prime Minister confirms that Hungary has lifted its veto on the  decision to allocate 20 million euros to Armenia within the framework  of  European Peace Facility RA Prime Minister confirms that Hungary has lifted its veto on the  decision to allocate 20 million euros to Armenia within the framework  of  European Peace Facility
Armenia  approached its Russian partners with proposal to discuss   possibility of constructing railway line from Yeraskh to  Nakhichevan  borderArmenia  approached its Russian partners with proposal to discuss   possibility of constructing railway line from Yeraskh to  Nakhichevan  border
RA Prime Minister of Armenia to attend  Supreme Eurasian Economic  Council Meeting  in St. PetersburgRA Prime Minister of Armenia to attend  Supreme Eurasian Economic  Council Meeting  in St. Petersburg
EDB Macroeconomic Outlook: Eurasian economies to grow to 9.3% in 2026 EDB Macroeconomic Outlook: Eurasian economies to grow to 9.3% in 2026
Converse Bank joins the Partnership for Carbon Accounting Financials Converse Bank joins the Partnership for Carbon Accounting Financials 
Mandron: EDB no longer plans to participate in  Amulsar gold deposit  development projectMandron: EDB no longer plans to participate in  Amulsar gold deposit  development project
Mandron: EDB interested in participating in Yerevan`s Ajapnyak metro  station construction projectMandron: EDB interested in participating in Yerevan`s Ajapnyak metro  station construction project
Ardshinbank Launches New Toolkit on sme.ardshinbank.am Platform for SMEsArdshinbank Launches New Toolkit on sme.ardshinbank.am Platform for SMEs
EDB plans to increase investment in Armenia`s economy to $500 million  by the end of 2026 EDB plans to increase investment in Armenia`s economy to $500 million  by the end of 2026
Pashinyan calls for Pashinyan calls for "resolving cash issue" and closing stores that  offer discounts for cash payments
EDB forecasts 6% economic growth in Armenia by the end of 2025 EDB forecasts 6% economic growth in Armenia by the end of 2025
Azerbaijan to send first shipment of petroleum products to ArmeniaAzerbaijan to send first shipment of petroleum products to Armenia
Armenia  establishes tariff quotas for long-grain rice from Vietnam  as part of Free Trade Agreement between Eurasian Economic Union and  VietnamArmenia  establishes tariff quotas for long-grain rice from Vietnam  as part of Free Trade Agreement between Eurasian Economic Union and  Vietnam
Pan-Armenian competition Innovate Armenia  launchedPan-Armenian competition Innovate Armenia  launched
AraratBank Supports Digitization of AraratBank Supports Digitization of "Karin" Scientific Center Archive
Welcome to the ID booth: Big Christmas MarketWelcome to the ID booth: Big Christmas Market
Opportunities for expanding economic cooperation between Armenia and Switzerland discussed in YerevanOpportunities for expanding economic cooperation between Armenia and Switzerland discussed in Yerevan
24th meeting of  Armenian-Russian Intergovernmental Commission on  Economic Cooperation  held in Yerevan24th meeting of  Armenian-Russian Intergovernmental Commission on  Economic Cooperation  held in Yerevan
PSRC approves Gazprom Armenia`s investment program for 2026-2030PSRC approves Gazprom Armenia`s investment program for 2026-2030
Georgian PM comments on oil  product supplies from Azerbaijan to  ArmeniaGeorgian PM comments on oil  product supplies from Azerbaijan to  Armenia
RA State Revenue Committee proposes to postpone  implementation of  digital systems  that ensure fulfillment of tax obligations for  six-monthsRA State Revenue Committee proposes to postpone  implementation of  digital systems  that ensure fulfillment of tax obligations for  six-months
Central Bank of Armenia:  Refinancing rate lowered from 6.75% to 6.5% Central Bank of Armenia:  Refinancing rate lowered from 6.75% to 6.5% 
EIB to provide  50 million euro loan to Armenia for  implementing  EIB to provide  50 million euro loan to Armenia for  implementing  "Armenia - Sustainable Syunik" program
Armenia to receive $250 million loan from Asian Development Bank to  address housing needs of internally displaced persons from  Nagorno-KarabakhArmenia to receive $250 million loan from Asian Development Bank to  address housing needs of internally displaced persons from  Nagorno-Karabakh
Diplomat: Russia  is proving its status as Armenia`s key trade and  investment partner in practiceDiplomat: Russia  is proving its status as Armenia`s key trade and  investment partner in practice
Idcoins and idplus gift cards at Big Christmas MarketIdcoins and idplus gift cards at Big Christmas Market
The Minister of High-Tech Industry of Armenia discussed cooperation issues with representatives of SupermicroThe Minister of High-Tech Industry of Armenia discussed cooperation issues with representatives of Supermicro
American diplomat: The United States seeks to ensure Armenia`s energy independenceAmerican diplomat: The United States seeks to ensure Armenia`s energy independence
Another wheat shipment being transported to Armenia via Azerbaijan -  Economy Minister Another wheat shipment being transported to Armenia via Azerbaijan -  Economy Minister
"In Our Way" movement: What kind of winemaking center are we talking  about if Kakheti exports $200 million worth of wine, while Vayots  Dzor only exports $2 million?
Armenia  improved control of products subject to phytosanitary  supervision - RosselkhoznadzorArmenia  improved control of products subject to phytosanitary  supervision - Rosselkhoznadzor
Armenia`s mining industry potential  showcased at  Resources of  Tomorrow exhibition in LondonArmenia`s mining industry potential  showcased at  Resources of  Tomorrow exhibition in London
EIB Global and Ardshinbank launch €100 million partnership to boost business growth and job creation in ArmeniaEIB Global and Ardshinbank launch €100 million partnership to boost business growth and job creation in Armenia
Armenia collected 2, 441.9bn drams in taxes by December 2025,  compared to planned 2, 720.3bn drams for the yearArmenia collected 2, 441.9bn drams in taxes by December 2025,  compared to planned 2, 720.3bn drams for the year
Armenia the sixth  largest exporter of fish to the Russian marketArmenia the sixth  largest exporter of fish to the Russian market
Pashinyan visits Atom Museum in Moscow to learn about achievements in  nuclear energyPashinyan visits Atom Museum in Moscow to learn about achievements in  nuclear energy
Ameriabank acts as Underwriter- Intelligent Management Holding to  launch debut bond placement on December 15Ameriabank acts as Underwriter- Intelligent Management Holding to  launch debut bond placement on December 15
Armenia`s Nuclear Power Plant is the best nuclear project of the  Soviet Union still operating- Rosatom headArmenia`s Nuclear Power Plant is the best nuclear project of the  Soviet Union still operating- Rosatom head
Armenian vice-premier confirms discussion of export of Azerbaijani  oil products to Armenia with Azerbaijani counterpartArmenian vice-premier confirms discussion of export of Azerbaijani  oil products to Armenia with Azerbaijani counterpart
Globbing launches its debut issue of AMD and USD registered coupon  bonds in ArmeniaGlobbing launches its debut issue of AMD and USD registered coupon  bonds in Armenia
How to Choose a Career Path and What Skills are Considered Crucial: AraratBank on the GoTeach PlatformHow to Choose a Career Path and What Skills are Considered Crucial: AraratBank on the GoTeach Platform
Armenian businesses to receive tax deductions for donations to  educationArmenian businesses to receive tax deductions for donations to  education
Armenia to be recognized as PPR-free zoneArmenia to be recognized as PPR-free zone
Pashinyan reaffirms Yerevan`s willingness for mutually beneficial  collaboration  with EAEU member statesPashinyan reaffirms Yerevan`s willingness for mutually beneficial  collaboration  with EAEU member states
EDB MMI: Armenia accounts for 10.2% of all FDI attracted in  Eurasian  regionEDB MMI: Armenia accounts for 10.2% of all FDI attracted in  Eurasian  region
Armenian government changing procedures for conducting electronic  auctions and alienating propertyArmenian government changing procedures for conducting electronic  auctions and alienating property
More attention to be paid to solar power development  in Armenia -  Prime MinisterMore attention to be paid to solar power development  in Armenia -  Prime Minister
Pashinyan: At this phase, no discussions to leave  EAEUPashinyan: At this phase, no discussions to leave  EAEU
Read more
Exchange rates
19.12.2025
RUB4.74-0.03
USD381.47-0.03
EUR446.97-0.30
GBP510.451.03
CAD276.57-0.32
JPY24.25-0.23
CNY54.180.00
CHF479.960.09


Experts
Analyst: EDB sees a possible slowdown in economic growth outside the country as the primary risk for the Armenian economy in 2026-2028Analyst: EDB sees a possible slowdown in economic growth outside the country as the primary risk for the Armenian economy in 2026-2028
Expert critical of compulsory medical insurance Expert critical of compulsory medical insurance 
Expert comments on medical insurance system in Armenia Expert comments on medical insurance system in Armenia 
Read more

Commented
ATI.SU: Demand for international cargo transportation 30% up in  ArmeniaATI.SU: Demand for international cargo transportation 30% up in  Armenia
Civil Contract nominates Armen Ktoyan for  Central Bank Board Member  positionCivil Contract nominates Armen Ktoyan for  Central Bank Board Member  position
Armenia, France considering prospects for expanding technological  cooperation  Armenia, France considering prospects for expanding technological  cooperation  

Company bonds
UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
UCO CJSC "GLOBAL CREDIT"4
UCO CJSC "GLOBAL CREDIT"5
UCO CJSC "GLOBAL CREDIT"7
"National Mortgage Company"2A
"National Mortgage Company"2B
UCO CJSC “FINCA” 1
UCO CJSC “FINCA” 2