YEREVAN, JUNE 22, NOYAN TAPAN. Araratbank is going to reorganize from closed joint stock company into an open joint stock company and to make an initial placement offer. The bank's executive director Ashot Osipian stated this at the June 22 press conference. He said that this autumn the bank will be ready for the first issue of shares. A. Osipian reminded that Araratbank completed the issue of 10 thousand corporate bonds of 250 million drams (about 714 thousand USD) in May 2007 and listed them on the Armenian Stock Exchange.

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