Yerevan, January 9 /Mediamax/. The demand for “ARARATBANK” shares, placed on December 17 of 2007 for sale by means of DPO (direct public offering), exceeded the offered volume.

As Mediamax was told today in the press service of the bank, the placement of shares was to be concluded on January 21 of 2008. However, taking into consideration the fact that on December 29 of 2007 the number of shareholders was full and the demand for the shares considerably exceeded the offered volume, “ARARATBANK” concluded the subscription.

As a result of the subscription, 83 applicants will be registered as shareholders of “ARARATBANK”.

The face value of ordinary nominal shares of “ARARATBANK” made 5000 drams, the cost of placement of shares - 5900 drams. The overall volume of placement made 381mln 500 thousand drams. The quantity of the placed shares make 76 300.

In December of 2007, Executive Director of “ARARATBANK” Ashot Osipian noted that the issue and the placement of shares will be of continuous nature. In particular, in 2008, the bank plans to organize three placements of shares.