ArmInfo.Since the announcement of the issue of shares by ACBA Bank (in September of this year) to this day, about 4000 individuals and legal entities have invested over 4.5 billion drams, becoming shareholders. As noted in the message of the Bank, this is the largest placement of shares held in Armenia. A similar scale of placement is already ensured by further listing of ACBA Bank shares on the liquid platform of the AMX/Armenia Securities Exchange.
ACBA Bank Chief Executive Officer Hakob Andreasyan noted: "The investor has two reasons to become a shareholder of ACBA Bank: financial and non-financial. The financial goal of the acquisition is very specific - to get a stable and long-term income. And in non-financial terms, we give people the opportunity to become a shareholder and participate in one of the best companies (groups) in Armenia, and, having become a shareholder, everyone can take part in management. The first reason that made such a step was due to the fact that during 25 years of working with an army of clients, they already considered this bank their own, they themselves contributed to our strengthening. We had to give them the opportunity to purchase shares at book value. I am glad that the number of our shareholders is increasing, the process is very positive. We feel obligated to do better, be more transparent and manage our financial group more effectively. "
More details of the news are presented in the video under the link: https://www.youtube.com/watch?v=lgrUevTKjNk.
To note, the start of the issue of the first shares of ACBA Bank OJSC was announced on September 13, 2021, in the amount of 500 thousand shares, with a total volume of 7.5 billion drams (at the placement price). According to the issue prospectus, the par value of one share of this issue is 10 thousand drams, and the price of placement of one share is 15 thousand drams. That is, the total nominal volume of the issue is 5 billion drams, and the volume at the placement price is 7.5 billion drams.
The funds received from the placement of shares are planned to be directed to the development of the Armenian economy, in particular, agriculture, the formationof new infrastructures, the efficient use of water resources and a number of areas that will contribute to the commensurate development of communities and the protection of the environment.
According to the Financial Rating of Banks of Armenia as of September 30, 2021, prepared by ArmInfo IC, the authorized capital of ACBA Bank amounted to 50 billion drams (4th place in the market), and the total capital - 75.3 billion drams (3rd place in the market). The accumulated profit of the Bank by October of this year exceeded 10.8 billion drams. The Bank completed 9 months of 2021 with a net profit of 7.4 billion drams (3rd place), with a 3-fold y-o-y growth, and in Q3 alone, net profit increased 4.6-fold- up to 5.5 billion drams (1st place). As of September 30, 2021, the shareholders of ACBA Bank are "ACBA Federation CJSC " with a share in the capital of 92.05%, "Sacam International" SJSC (a member of the Credit Agricole banking group) - 5%, and the remaining 2.95% shares since July this year, were distributed among 1116 employees of ACBA Bank, ACBA Federation and ACBA Leasing. (The estimated exchange rate of the dram against the US dollar as of September 30, 2021 was 484.20 AMD / $ 1).
To remind, in the banking sector of Armenia, "Armeconombank" OJSC was traditionally distinguished by an impressive number of shareholders, having 5027 shareholders as of June 30, 2021.