AraratBank Supports Another Successful Entry into the Capital Market
ОбществоFor more than 15 years, AraratBank has been an active participant in Armenia’s capital market and, in recent years, has been recognized as a leading underwriter in the corporate securities market.
Drawing on its extensive expertise in investment banking, AraratBank continues to support companies taking its first step into the capital market. The Bank has successfully placed the AMD- and USD-denominated bonds of Garni Invest UCO CJSC. The AMD-denominated bonds were placed on March 18 of the current year, while the USD-denominated bonds were placed during the period from March 18 to March 20 of the current year.
“The initial offering proved successful. To be honest, I had certain concerns regarding the placement; however, the bonds were fully and successfully placed. The demand significantly surpassed both our expectations and the volume of issued bonds. Our cooperation with AraratBank was highly effective. I would like to express my sincere gratitude to the AraratBank team for their support, responsiveness, and contribution to the successful placement,” said Bagrat Asatryan, Executive Director of Garni Invest UCO CJSC.
On May 12, Garni Invest UCO CJSC officially marked its entry into the Armenia Stock Exchange, joining the ranks of listed companies. The traditional bell-ringing ceremony, symbolizing the company’s listing, signaled the start of bond trading on the exchange, as well as a new phase in the company’s journey of growth and development through the capital market.
“I am pleased that AraratBank stood alongside Garni Invest UCO as a partner throughout this process. From the very beginning, we were able to ensure a smooth workflow in terms of service delivery and advisory support, the result of which we are witnessing today. This represents a further step forward in the development of the capital market, and I am confident that increased availability and diversity of alternative investment options will benefit both our clients and the broader public. Providing our clients with a wide range of diversified services is at the core of our efforts,” said Vakhtang Abrahamyan, Chairman of the Executive Board and Chief Executive Officer of AraratBank.
The bonds are listed on the Armenia Stock Exchange, enabling investors who did not participate in the primary placement to purchase them on the secondary market.
“There is strong interest in the bonds, as evidenced by the fact that transactions were executed at prices higher than the initial placement price, clearly indicating strong demand. Another evidence of this demand is that the bonds were effectively fully placed and sold within just a few hours. This is highly commendable and encouraging, particularly in light of the growing participation of the public in the capital market and its increasing ability to differentiate between bank deposits and bonds,” said Hayk Yeganyan, Chief Executive Officer of the Armenia Stock Exchange.
Leveraging its extensive experience in securities issuance and placement, as well as a strong track record in corporate bond placements for leading companies, AraratBank will continue to dedicate its expertise to the development of Armenia’s capital market and the support of emerging market participants.
AraratBank is regulated by the Central Bank of Armenia.