ArmInfo. Since the conclusion of the deal with the Warsaw Stock Exchange (on the acquisition of a part of the shares of the Armenia Securities Exchange -AMX), the Ministry of Economy has been working on a program that will activate the capital market of Armenia. Deputy Minister of Economy of Armenia Rafael Gevorgyan stated at a meeting of the Armenian- Polish intergovernmental commission on economic cooperation.
In particular, he explained that the matter concerns the mechanisms of state subsidies for companies whose shares or bonds are listed on the Armenian stock market. "Yesterday we received a preliminary consent from the government and the project will be presented at the next session of the Cabinet of Ministers," the deputy minister said.
According to Gevorgyan, according to the project, the government plans to subsidize the transaction costs of companies related to placement, listing and public sales. In addition, over the next 3 years, the state will provide market participants with certain financial assistance in the amount of 3% of the volume of their placement.
"The program was discussed at the highest political level and was approved by all partners," Gevorgyan noted.
On May 24, 2022, the CBA Board agreed to the purchase of the Armenian Security Exchange by the Warsaw Stock Exchange. Under a purchase agreement the Warsaw Stock Exchange purchased 65.03% (967 shares) of the AMX. The CBA's share remained 25.02%, and the AMX's share 9.95%. An AMD 873mln transaction was effected.
Armenia Securities Exchange (AMX) is the only securities regulated market operator in Armenia. As an integrated exchange offering, AMX provides a full suite of services including listing, trading, clearing, information services and alternative market solutions. Investors receive a wide range of investment products and maximum transparency, together with the smooth and efficient execution and clearing of trade transactions. Being a 100% shareholder of the Central Depository of Armenia, AMX also provides integrated settlement solutions for both resident and non-resident clients by utilizing the central depository's international settlement network and relationships with global depositories. AMX as a group has a pivotal role in the Armenian financial system.
