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“ARTSAKH HEK” OJSC SUMMARIZES THE RESULTS OF THE THIRD PUBLIC ISSUE OF SHARES

08.11.2011
The public offer of the third issue of "ARTSAKH HEK" OJSC shares organized by "ARMSWISSBANK" CJSC, ended on October 24, 2011. As a result, the Company raised funds for the amount of AMD 3,649,597,860 which are planned to be entirely directed to financing new investment projects of the Company. This was an unprecedented event in the history of the Armenian stock market not only in terms of the amount of funds raised in the capital market but also by the exceptional participation rate of non residents, whose share accounts for 70% of the new placement. Overall, 130 investors participated in the placement of shares. It is also worth mentioning that the largest shareholder of the Company, the Nagorno Karabakh Republic, didn't acquire new shares. At present the Company's statutory capital comprises 47.8% state and 52.2% private ownership and the share of non residents is 56.5%.

Even after the allocation, the shares of the Company are available to the investors through a highly liquid market for those shares. The presence and permanence of such market is ensured by the market maker of the Company, namely, "ARMSWISSBANK" CJSC. The Company plans to have the additionally placed 3,287,926 shares  also listed at the secondary B list of "NASDAQ OMX ARMENIA" OJSC as a result of which 10,650,000 shares of "ARTSAKH HEK" OJSC will be circulating in the market. Today the shares are quoted in the market at AMD  1,120 and AMD 1,070 bid and ask prices respectively.

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* In case of discrepancies between the published Armenian and English language information, the Armenian information prevails.