Only those securities, which and issuers of which comply with the general and special requirements set forth by the Rules on Listing and Admission to Trading may be traded on the Exchange.

Armenia Securities Exchange has the following list structure, reflecting various levels of requirements for companies and securities admitted to trading on the Exchange:

Stocks

Main List (A)

Special Requirements:

  • Total calculated value of shares minimum AMD 1 billion
  • Issuer operating for no less than 3 years
  • Net financial result for last 3 years – profit
  • At least 100 registered shareholders
  • Free float of minimum 15%
  • At least one Market maker

Secondary List (B)

Special Requirements:

  • Total calculated value of shares minimum AMD 500 million
  • Issuer operating for no less than 3 years
  • Free float of minimum 10%

Free Market (C)

Special Requirements:

  • Official Website
  • No large-scale changes of management body within one year
  • Published charter

Being admitted gives the company a reliable channel for disclosing financials and other material information to the holders of its stocks. For further details, please see Rules on Listing and Admittance to Trading.

Companies that are under liquidation, because of bankruptcy as well, cannot be admitted even to the Free Market (C).

 

Corporate Bonds

- Main List (Abond)

Requirements:

  • Issuer operating for no less than 3 years
  • Minimum size of the given issue: AMD 500 million
  • At least one Market maker

 - Secondary List (Bbond)

Requirements:

  • Issuer operating for no less than 2 years
  • Minimum size of the given issue: AMD 250 million

Free Market (Cbond)

Requirements:
The only requirement for bond issues admitted to the Free Market (Cbond) is for the size of the issue to be no less than AMD 100 million. Money market instruments with maturity up to one year, including bonds and other short-term debt instruments, are also admitted to the free Cbond market.

Companies that are under liquidation, because of bankruptcy as well, cannot be admitted even to the Free Market.

The procedure and documents required for listing/getting admitted to trading are much like those for listing, and you can refer to the List with Us section of our website to get relevant information. A more detailed description of the requirements and the admission procedure can be found in our Rules on Listing and Admittance to Trading. To learn about the fee structure, please refer to our Tariff Rules.

All companies that applied for listing/admission to trading on Armenia Securities Exchange must have their shareholders registry maintained by the Central Depository of Armenia.

Listing Contact: Listing Department, Tel.: +374  60 69 55 55 ext.190.

 

 

Updated as of: 12.03.2020