Monday, May 31 2010 17:10
ARARATBANK to enter Warsaw Stock Exchange with IPO in 2011-2012
ArmInfo. ARARATBANK is studying possible entry to the Warsaw Stock Exchange with initial public offering (IPO) in 2011-2012, said Ashot Osipyan, Head of ARARATBANK Board, at the annual assembly of the bank's shareholders on Monday.
He said that the entry of the Armenian bank to the exchange was discussed with a representative of the Warsaw Exchange who visited Yerevan last year. Ashot Osipyan said that the bank's shares are actively quoted at the Armenian stock exchange. "We have market-makers supervising the process in the stock exchange, estimating trends and expected yield, reliability of securities etc. Transactions with shares are effected every month," he said. Osipyan pointed out that the bank has developed a program to increase the number and volume of transactions.
A roundtable on the topic "Armenia and prospects of development of financial markets in Eastern and Central Europe" was organized in the middle of last year on the initiative of ARARATBANK. Mr. Ludwik Sobolewski, CEO, Warsaw Stock Exchange, attended the event at the invitation of the bank. In his speech, Mr. Sobolewski presented the history, dynamics and prospects of development of the Warsaw Stock Exchange and the growing interest of global investors. As regards the Armenian companies' IPO at the Warsaw Stock Exchange, Mr. Sobolweski said that he attaches high importance to the financial markets of East European countries and presence of the Armenian company in the exchange is a good opportunity for effective investing. He said that the exchange actively cooperates with Ukraine, Belarus and Kazakhstan and it would be logic if Armenia continued the list of those countries.