Friday, August 12 2011 17:52
Third tranche of Artsakh Water Power Plant's shares to be placed in Sept 2011
ArmInfo. During a special meeting the shareholders of Artsakh Water Power Plant OJSC have decided to place the third tranche of the company's shares in Sept 2011.
Head of the Investment Department of Armswissbank (the underwriter and market-maker of the issue) Karen Turyan says that a total of 3,673,926 shares worth 1,000 AMD each will be placed this time.
The second tranche worth 1.4bln AMD was registered by the Central Bank of Armenia Nov 2 2010 and distributed in Dec 2010 through preferential placement and IPO (103,146 shares and 1,296,854 shares, respectively).
According to NASDAQ OMX Armenia, 21 transactions worth 39.116bln AMD have been carried with Artsakh WPP's shares so far.
The IPO of the first tranche (3,285,715 shares worth 1,050 AMD each) took place Mar 10-May 27 2009 with 861,652 shares worth 904,634,600 AMD placed. On the stock exchange the shares are listed as "B."
According to Artsakh WPP, in Q1 2011 the company's accumulated profit totalled 1.162bln AMD (4.2% more than in Q1 2010), the assets - 12.964bln AMD, the authorized capital - 7.362bln AMD, the share premium - 197.1mln AMD.
Artsakh Water Power Plant OJCS is one of the leading energy companies of the Nagorno-Karabakh Republic with a 40-60% share in the local energy market. The money earned from the placement of the tranches has been spent on the construction of three water power plants. One of them was launched in 2010, the other two will be ready in 2011.