Artsakh HEK ojsc stocks listed on NASDAQ OMX ARMENIA

Wednesday, 28 October 2009

Starting October 29, 2009, common stocks of Artsakh HydroPower Plant  open joint stock company ( Artsakh HEK  ojsc) will be included in the B list of NASDAQ OMX Armenia. A total of 5,962,074 stocks of the company with nominal value AMD 1,000 will thus become listed and traded at the exchange under ticker symbol AHEK. Artsakh HEK  ojsc is a major power production company in Nagorno-Karabakh Republic (NKR), which currently satisfies around 50% of NKR s total electricity needs. Early in 2009, Artsakh HEK  ojsc entered the capital market with the first initial public offering in Armenia allocating 862,074 newly issued common shares of the company to 1,111 local and foreign investors. The newly raised capital is to be used by the company to build three modern power plants with capacity of up to 5 MW each on the Tartar river, the largest in NKR. Artsakh HEK  plans to deploy the three new plants as early as in August 2010.