Trade Network Star May Be First Armenian Company To Go Public

TRADE NETWORK STAR MAY BE FIRST ARMENIAN COMPANY TO GO PUBLIC

Interfax
Dec 1 2011
Russia

Armenia’s CJSC Star Divide, which has the country’s biggest network
of supermarkets, plans to conduct an initial public offering for
late-2012, and would be the first Armenian company to do so.

The IPO would involve 10%-20% of the company’s stock, Star Divide
Director Vaan Kerobyan told reporters on Thursday. A final decision
on the stake has yet to be made, he said. “We are still discussing
this question. Having an IPO is itself very important, as we are
trying to become a public company,” he said.

CJSC ArmRosGazprom had similar plans, but the 2009 crisis ruined them.

Star Divide was set up in March of 2006. It got a new owner in
mid-2011 – Viest Assets Ltd., which is registered in the British Virgin
Islands. That company bought 100% of the stock from the European Bank
for Reconstruction and Development (28.3% of shares) and entrepreneur
Genrikh Zakharyants (71.7%). In October, Star announced the completion
of the purchase of the trading network Fresh.