ARMBROK becomes market maker for Acba Bank shares

YEREVAN, March 3. /ARKA/. Starting from March 1, 2023 ARMBROK investment company is acting as a market maker for Acba Bank's shares traded on the Armenian Securities Exchange (AMX), the bank's press service reported.

Acba Bank's ordinary shares worth AMD 55 bln are listed on AMX's best "A" list and are currently the most actively traded securities. In the last month alone, the volume of transactions made with Acba Bank's shares amounted to about 42 million drams.

ARMBROK, as a market maker, will be making permanent quotations of purchase and sale of shares at the exchange, ensuring absolute liquidity of Acba Bank's shares in the secondary market.

According to Hakob Andreasyan, the General Executive Director of Acba Bank, the involvement of ARMBROK as a market maker for Acba Bank’s shares at the exchange is yet another step towards creation of favorable conditions for the present and future shareholders of the bank.

According to him, this will contribute to an increase in the turnover of the bank's shares on the market in the future and strengthen the trust in the bank's securities.

Aram Kaifadjyan, General Director of ARMBROK, also stressed the importance of having a market maker on the stock exchange in terms of securities’ turnover and price formation. He said as a founding member of the Armenian Securities Exchange, ARMBROK has good experience, particularly in performing market maker functions.

According to Kaifadjyan, ARMBROK is happy to cooperate with one of the largest banks in Armenia within the framework of this comprehensive initiative and is ready to provide both the bank and its shareholders with highest quality services. -0-