The level of public awareness of the processes in the secondary securities market of Armenia is very low, Armen Melikyan, CEO of NASDAQ OMX Armenia Stock Exchange told reporters on January 29 in Yerevan. According to Melikyan initial public offering (IPO), realized by Artsakh HPP at the NASDAQ OMX Armenia stock exchange is a first and established IPO in Armenia. "But I cannot say the same about the quotation of the same securities on the secondary market," he said.
According to him, not the IPO was done incorrectly, but the process should be divided into two stages – first placement and quotation on the secondary market.
"In Armenia there are excellent experts who can organize a primary offering for any company, but after the first stage, when the securities come to the secondary market, there are few skilled professionals who can implement and maintain this process in the secondary market,” Melikyan said.
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, and with over 3,900 companies, it is number one in worldwide listings among major markets. NASDAQ OMX technology supports the operations of over 60 exchanges, clearing organizations and central securities depositories in more than 50 countries.
In January 2008, Nordic exchange operator OMX Group acquired 100% of shares of the Armenian Stock Exchange (Armex) and the Central Depository of Armenia (CDA). After the combination of NASDAQ and OMX in February 2008, Armex and CDA have become fully owned by the NASDAQ OMX Group, Inc. For more information on the NASDAQ OMX Group, Inc.
On January 27, 2009, “Armenian Stock Exchange” ojsc was officially renamed as “NASDAQ OMX Armenia” ojsc. On June 5, 2009, “NASDAQ OMX Armenia” ojsc became the owner of 100% of the shares of the “Central Depository of Armenia” ojsc.
