Monday, June 13 2016 15:01
Karine Melikyan

Armeconombank to launch 13th issue of shares in amount of 5 bln AMD starting from June 17

Armeconombank to launch 13th issue of shares in amount of 5 bln AMD starting from June 17

ArmInfo. Armeconombank will launch its 13th issue of shares in the amount of 5 bln AMD by market value or 856.2 mln AMD by nominal value starting from June 17. The press-service of the bank has told ArmInfo, that 342466 of ordinary shares will be issued. The nominal value of each share is 2,500 AMD, offer price 14600 AMD. It is planned to finish placement of shares on September 30, 2016. The Central Bank of Armenia has registered the prospectus on June 8.

Armeconombank conducts 13th public offering of shares taking into account successful experience of previous placement of shares, which are listed at "B" platform NasdaqOMX Armenia. As a result of 12th issue the number of Armeconombank's shareholders increased almost by 1600. As of now the bank has 3041 shareholders. 

On June 24 the issue of payment of dividends amounted to 14% will be submitted for approval at the Armeconombank's meeting of shareholders. The bank had 368.8 mln AMD net profit at year-end 2015.  The shareholders will decide which part of this sum will be directed for replenishment of capital and how much will be spent on payment of dividends.

To recall, the Central Bank of Armenia has recently given a preliminary positive conclusion on the merger of Armeconombank and BTA Bank (Armenia). As a result, the regulatory capital of the merged Amerconombank amounted to 24 bln AMD as of April 1, increasing by over 4 bln AMD at the expense of the transaction. To note, by the Central Bank's decision, by 2017 the minimum total capital standard for the Armenian banks shall be 30 bln AMD. Taking into account that income is ensured quarterly due to 13th emission Armeconombank will most likely manage to replenish capital till the deadline. "Our key majority shareholders have already expressed willingness to replenish the missing amount if needed," Chairman of the Board of Armeconombank OJSC Armen Naljyan said in a talk to ArmInfo's correspondent, noting that the need for further replenishment of the regulatory capital will not hinder the active dividend policy, because Armeconombank is a public bank and conducts a corporate policy. So, it should pay dividends to the shareholders and the amount of the dividends will be determined during the general meetings of the shareholders. 

According to the Ranking of Armenian Banks by the Agency of Rating Marketing Information (ArmInfo), taking into account the capital of merged BTA Bank total capital of Armeconombank made 25 bln AMD with 80% y-o-y growth. The bank raised authorized capital in Q1 2016 2.7-fold to 12.9 bln AMD (also taking into account BTA). The accumulated profit of Armeconombank alone totaled 2.8 bln AMD as of April 1 (4% quarterly growth), but taking into account the loss of BTA Bank the total accumulated profit of the merged bank made 1.5 bln AMD. The majority shareholders of the Bank are EBRD - 11.05%, Saribek Sukiasyan - 25.9%, Khachatur Sukiasyan - 14.38%, Robert Sukiasyan - 14.97%, Eduard Sukiasyan - 11.18%. 2800 of more than 3000 shareholders are physical entities with 79% share of participation. The Sukiasyans' family owns a total of 66.43% of the Bank's shares.

To note, Armeconombank (former ZhilSotsBank of Armenian SSR) was the first of the state banks to be reorganized into a joint-stock bank with a CB registration dated 26 Aug 1991. The Bank has an OJSC status. In 1997, Armeconombank's stockholder capital radically changed when the founders of SIL Concern (the Sukiasyans family) joined the capital. In 2004, EBRD joined Armeconombank's capital. As of 1 April 2016 the assets of Armeconombank amounted to 108.2 bln AMD (23.8% year-over-year growth), including lending - 60.4 bln AMD (up 20% over year), total obligations - 88.5 bln AMD (up 15.8% over year).  The Bank has 40 branches, including 19 in Yerevan, 20 in the provinces of Armenia and 1 in the NKR. 


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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000