Securities listed at AMX have been cross-listed at a foreign exchange for the first time
For the first time ever, the bonds listed at Armenia Securities Exchange have cross-listed at a foreign exchange. Unibank’s coupon bonds (ISIN – AMUNIBB2AER2) with 5.25% annual yield have been included on the third listing level of Moscow Exchange.
Outlining the importance of the listing of Unibank’s bonds on MOEX, Hayk Yeganyan, CEO at AMX, said, “This is a historic event for Armenian capital market. For the first time the securities listed at AMX have also been listed at a foreign exchange. Ahead of EAEU’s 2025 plan on the formation of one united financial market, AMX and Central Depository of Armenia, as a result of active cooperation with the interested participants in the capital market, have created an opportunity for issuing companies to expand their international recognition, to enlarge securities turnover, and to attract finance from Russian markets through cross-listing. We hope that the other members of the Armenian Stock Exchange will also take advantage of this opportunity.”
The primary listing of bonds took place at AMX on December 23, 2019. The market maker of Unibank’s bonds in Armenia is “Armenbrok” OJSC, and “GX2 Invest” JSC in Russia.
“Cross-listing at MOEX will allow Russian investors to buy the bonds listed by the Armenian bank in a more facilitated procedure- without the necessity of opening a securities account in Armenia. Investors only need to have an account in Russian National Settlement Depository or at one of its custodians. National Settlement Depository of Russia has an opened securities account in Central Depository of Armenia (CDA) – the centralized custodian and registry keeper of Unibank’s bonds. Central Depository of Armenia and Russian National Settlement Depository are the licensed Central Depositories with long years’ experience, reliability and high-profile, expanding within and out of the CIS region”, said Vahan Stepanyan, CEO at Central Depository of Armenia.
Vahan Stepanyan added, “The cooperation between two depositories is structured on mutual trust and high professionalism which allows Armenian companies to have a smooth access to Russian securities market. With a vast geography of CDA’s international partnership, such simplified procedures will be initiated with other foreign depositories.”
Unibank made the decision of listing securities in Russia, considering the large interest of investors towards banks’ USD-denominated bonds. Unibank’s bonds are available for both natural persons and legal entities.
“Our bonds call for a significant interest in wide circles of investors abroad, as well. This is an instrument, ideally matching for low-risk investments. Unibank initiated this project and, together with the Exchanges of Russia and Armenia, undertook an enormous job, thereby expanding the prospects for the development of the capital market and increasing the volume of investments. We are sure, that our bonds will meet Russian investors’ requirements and this profitable offer will be made use of by a great number of people wishing to save or increase their funds, as Unibank’s bonds are trustworthy, profitable and with high liquidity”, said Mesrop Hakobyan, CEO at Unibank OJSC.
