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Skip Navigation LinksHome :: Markets/asset classes :: Equities :: Armenia: Yerevan floats hydroelectric IPO

April 2009

Armenia: Yerevan floats hydroelectric IPO

The marketing campaign for the first-ever initial public offering from Armenia has been launched despite the fact that the country recently had to abandon attempts to support its currency, the dram, which depreciated by 25% in March.




Hydroelectric power generator Artsakh Hek is looking to sell Dram3.45 billion ($9.5 million) of stock at Dram1,050 a share in a landmark offering that is being lead managed by Armenbroke. Vazgen Abgaryan, investment adviser at Armenbroke in Yerevan, says that the firm is looking to attract as broad as possible an audience for the groundbreaking transaction. "As the first ever IPO in Armenia it’s very important to see as wide a range of participation by investors as possible," he says....


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