Dimension Investments acts as the Sole Market Maker of ACBA Bank’s common shares trading on AMX
On February 1, the Armenian Securities Exchange (AMX) OJSC granted DIMENSION CJSC the status of ACBA Bank’s common shares market maker, having also listed the bank’s shares on its highest A platform, "DIMENSION" CJSC reported.
Individuals and legal entities have now the opportunity to acquire shares of ACBA Bank in the secondary market. ACBA Bank’s shares started trading after the completion of AMD7.5 billion (approximately $15 million) IPO in November 2021. The IPO was fully subscribed by over 5,200 individual and institutional shareholders at AMD15,000 per share. It was the largest IPO in the history of Armenian capital markets, in its size and the number of shareholders attracted.
Since the February 1 start of trading, over 1,600 shares of ACBA Bank traded, making it the most active stock on AMX. The trading price range has been in AMD15,950 to AMD16,400 per share, indicating 6.3% to 9.3% market price growth from the AMD15,000 per share IPO in November 2021. After listing the shares of ACBA Bank, Dimension investment company has been successfully providing the services of a market maker, constantly providing two-way quotations, ensuring the liquidity of shares in the secondary market.
The market maker is one of the most important players in the capital market. It carries out and concludes transactions in accordance with the rules of the Exchange.
In addition to serving as a sole market maker Dimension’s equity analyses, institutional sales, and block trading professionals will facilitate ACBA Bank shares trading. Dimension will regularly publish research on ACBA Bank common stocks offering information to assess and evaluate ACBA Bank shares as an investment.
"Dimension effectively carries out all the necessary operations to organize a market maker, enabling investors to buy or sell shares at any time," said Mikayel Margaryan, CEO of "Dimension" CJSC.
"Now any individual or legal entity has the opportunity to purchase a share of ACBA Bank from the Armenian Securities Exchange. By providing such an opportunity, we are creating a platform for investing in the Armenian economy. I think the path we have chosen is one of the best ways to secure investments in Armenia," said Hakob Andreasyan, CEO of ACBA Bank. Shares give investors the opportunity to diversify investments and can provide dividends and capital gain.
30 May 2022, Monday