Wednesday, October 5 2011 18:08
Artsakh WPP may issue more shares
ArmInfo. Artsakh WPP may issue more shares, CEO of ArmSwissbank (the underwriter and market-maker of Artsakh WPP) Gevorg Machanyan said in an interview to ArmInfo.
He said that the Government of the Nagorno-Karabakh Republic took an active part in the placement of the company's shares.
Concerning the stagnation of the capital market, the banker said that one should not expect any boom there due to the recent events on the world stock markets. "Pessimistic moods are prevalent in the world for the moment, but the securities market has been, is and will always be if represented by 'right' companies using 'right' instruments," Machanyan said.
He noted that there will be new IPOs in Armenia but not as ambitious and large-scale as before.
Meanwhile, one of those present, a banking expert, who asked ArmInfo now to specify his name, said that there is no capital market in Armenia. "There has been only one IPO to date. And all processes taking place on this market, including that IPO, are just an imitation," he said.