Tuesday, November 6 2012 14:48
Currency bonds of ARARATBANK passed listing at stock exchange
Arminfo. The first issue of the currency bonds of ARARATBANK in a volume $1 mln have passed listing at NASDAQ OMX Armenia, where the solemn ceremony was marked. As deputy executive director of the bank David Harutyunyan said during the event, the investment company "Renesa" came forward like a market-maker of issuing of the dollar bonds of the bank. It will support liquidity of these bonds at the secondary market.
The demand for the bonds of the bank was by 25% more than offer and bond subscription ended 2 days earlier of the scheduled term - on 13 October 2012, he said and added that the bonds of the bank were placed among 166 investors, major part of which are individual persons.
Harutyunyan said that the bank will direct the funds attracted from the market to crediting of small and medium-sized business.
To recall, the bond yield of the dollar bonds of ARARATBANK is 9%, the circulation term - 36 months with a quarter payment of the coupon yield. The nominal cost of one bond is $25.
The assets of ARARATBANK grew by 13% up to 98.8 bln drams and total capital of the bank grew by 21% up to 14.8 bln drams for nine months of 2012. The net profit of the bank amounted to 2.8 bln drams over the reported period - by 65,8% more since the beginning of the current year.
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