The Program on state assistance to the issue and rating is aimed at giving a new pulse to the capital market of the Republic of Armenia and financing flows to the real sector of the economy.

This Program envisages carrying out the following activities:

1. Assistance in placing and servicing the circulation of bonds issued in AMD, having an ultimate  maturity of at least 36 months at the time of issuance and listed on the Stock Exchange after the monent the Program becomes effective,   in the following amounts:
    

for the issuance, placement and listing of bonds on the stock exchange: within the amount of 2% of the nominal volume of the placement, but not more than 30 million drams,

for the circulation of bonds: in the amount of per  three percent of the nominal volume of placement for the first three years, but not more than 45 million drams for every 12 months of circulation.

    2․ For the issuance of shares: expenses for external audit, banking and exchange services related to the issuance, placement and listing on the stock exchange. At the same time, assistance for placement and listing on the stock exchange is provided to each beneficiary only once in the amount of 80% of the costs incurred within actual expenditures and justified  by the relevant documents.

   3․ Subsidizing  in  the amount of 50% of the first year's expenses for obtaining and maintaining a rating from international rating agencies, while  when being listed  on a stock exchange operating in the Republic of Armenia, subsidizing in the amount of up to 80% of the first year's expenses (30% in addition to the previous 50%), provided that the requirements  in relation to the bond project set forth  in paragraph 2 of the Project annex are met.

Pool of Beneficiaries

1.       Within the framework of the instrument for facilitating the issuance, placement and listing of bonds on the stock exchange, the Beneficiary is considered to be a commercial  organization registered and actually operating within the territory of the Republic of Armenia and, which has listed own issued bonds  on the stock exchange operating in the Republic of Armenia after this Program  becoming effective, while, if these bonds are nominated in drams, the latter should be issued with an ultimate  maturity of at least 36 months and  placed through a public offering, and, after listing,such  bonds have a market creator.

2. Within the framework of the instrument for facilitating the issuance, placement and listing of shares on the stock exchange, the Beneficiary is considered to be  a commercial organization registered and actually operating within the territory of the Republic of Armenia having ssued, placed and listed its shares on the stock exchange operating in the Republic of Armenia  after this Program  becoming effective, if this issue of shares was posted through a public offer.

3.      Within the framework of the cost recovery tool for obtaining and maintaining a rating from international rating agencies during the first 12 months, the Beneficiary is considered to be a commercial organization registered  and actually operating within the territory of the Republic of Armenia, which after the date of effectiveness of this Program has  received an international rating from one of the international rating agencies (Fitch", Moodies, Standard & Poor’s, or Scope ratings) , having a score not lower than two digits less than the sovereign rating of the Country.

The Beneficiaries of the Program cannot be:

The financial entities licensed by the Central Bank of the Republic of Armenia, persons engaged in regulated activities in the field of public services within the meaning of the Law of the Republic of Armenia On the Public Services Regulatory Authority, as well as subsoil users within the meaning of the Law of the Republic of Armenia  on the Code of the Republic of Armenia on Subsoil, while the financial organizations licensed by the Central Bank of the Republic of Armenia cannot be beneficiaries of the  Program on Assistance for  issuance, placement and listing on the Exchange Stock.

In order to receive assistance, the Beneficiary must submit a written Request Application to the Ministry of Economy of the Republic of Armenia in electronic format, attaching the relevant documents confirming the information contained in the application, as well as documents substantiating the actual expenses incurred.

To get advice on the program, please contact the Financial infrastructure Development Department via phone:  +374 011 59 72 39։.