Yerevan /Mediamax/. “Armswissbank” will participate in initial public offering of “Artsakh HPP” OJSC shares.

As Mediamax was told in Marketing Department of “Armswissbank”, the corresponding decision was made following the results of negotiations between the authorities of the Nagorno-Karabakh Republic, the leadership of “Artsakh HPP” OJSC and “Armswissbank” CJSC.

“Rich experience of “Armswissbank” will attach significant stimulus to the process of “Artsakh HPP” OJSC shares public offering and will have its effect on the issue of attracting investments in large volumes”, the statement reads.

Aiming at securing “Armswissbank” participation in the process of the public offering of “Artsakh HPP” shares, an agreement is signed between “Armswissbank” CJSC and “Armenbrok” OJSC on setting up an offering Group.

The Central Bank of Armenia registered the prospectus of “Artsakh HPP” OJSC issue share on December 30, 2008. The total volume of the issue makes 3bln 450mln 750 AMD. The number of placed ordinary nominal shares makes 3 285 715, the volume of one share placement makes 1050.

The means, attracted following the results of the primary offering of shares will be directed to building three HPPs on Tartar River.