24 / May / 2021 : 17-36
Interview with Francis Malige
Mr. Francis Malige, Managing Director, Financial Institutions for the EBRD, speaks on how
challenging the 2020 was for EBRD, the global economy recovery after the crisis, likelihood of
new projects and opportunities, current state of the banking system in Armenia and fruitful
cooperation with Ameriabank.

‘’Ameria is clearly the best place of the Armenian banks for an IPO today. To fund IPO you need
a few things to work. One is you actually need market appetite. So that is not entirely dependent
on Ameria. There is a crisis out there so investor appetite, we need to be engaged properly by
the arrangers of the transaction. But you also need strong fundamentals. And those strong
fundamentals go in two buckets in my view. One that you need is a minimum critical size.

Ameria is reaching that minimum critical size which is not easy in the Armenian market because
it’s not such a big market. But it is reaching that size. They can actually go and be offering a
pool of investors a number of shares that will make it into a meaningful IPO on the international
stage. And it’s not just about being big. It’s also about being good. And Ameria has a very good
management team has very good products, a good set of clients and so is ready, in my view, for
an IPO’’.

You can watch the full interview here.
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