Tuesday, January 29 2013 13:53
NASDAQ OMX Armenia Lists First Issue of SAS Group bonds
ArmInfo. On January 29, 2013 NASDAQ OMX Armenia held an opening bell ceremony to celebrate the first issue of SAS Group llc corporate bonds. NASDAQ OMX Armenia reports.
Starting January 29, 2013, nominal coupon bonds issued by SAS Group llc will be listed and included in the Bbond list of NASDAQ OMX Armenia. This issue of the Company's bonds comprises 700,000 coupon bonds with nominal value of USD 10, maturity 24 months and annual yield of 10.1%. The issue will be traded under SASGB1 ticker symbol. Ameriabank cjsc was underwriter of this issue of corporate bonds.
The funds raised from the equity market the retail chain will spend on expansion and development of the chain of supermarkets, Stepan Sahakyan, SAS Supermarkets Chain Director at SAS Group, said earlier. For his part, Arno Mosikyan, Director for Investment Banking Operation of Ameriabank, the underwriter of the issue, said that foreign investors from Sweden, Russia and other countries with big Armenian Diaspora take an interest in the bonds of the retail chain. "Issue of corporate bonds is the first step of the company towards implementation of more serious projects in the equity market. Public offering will become a logical continuation of the given step," he said.
Core business direction of SAS Group is retail. The Company runs one of the fast growing supermarkets chain in Armenia, SAS Supermarkets, and is also involved in online offers, running the only online supermarket in Armenia, sas.am. The company has already entered the markets of Bulgaria, Georgia and the USA, and is currently considering investment opportunities in other regions. SAS Group is also involved in clothes franchising, which has become one of the most prospective and fast growing business directions for the recent years. The company has signed exclusive franchise contracts with the world famous UK brands, NEXT, DEBENHAMS, and RIVER ISLAND, and the international fashion footwear brand ALDO .
In November the Central Bank of Armenia assigned G+ (third scale of the rating) investment rating to SAS Group. Ranking of Trade and Service Enterprises of Armenia prepared by Agency of Rating Marketing Information (ArmInfo) says that SAS Group's assets totaled 7.9 billion drams in 2011 with a 7% growth versus 2010. The capital stock of the company reached 933.3 million drams. Retained profit of the company totaled 108.2 mln drams for 2011 with 68.7% decline versus 2010, and 58.4% decline versus 2009 amd 31.5% versus 2008. The company's incomes amounted 28.9 bln drams in 2011 with a growth by 1/3 over the year. The statutory capital is 825.1 mln drams, which is equally shared by the two brothers Artak Sargsyan (parliamentarian from the ruling Republican Party) and Aram Sargsyan.
To recall, the Central Bank Board adopted a decision on the issue of currency bonds in terms of USD or EUR on June 20 2012 to reanimate the market of corporate bonds after the crisis-induced decline and growth of currency risks.
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