Armenia’s securities market on November 4: AMX summary

Government bonds on the Armenia Stock Exchange (AMX) saw 12 trades worth AMD 4.35 billion (about $12.1 million) on November 4. Corporate bonds recorded 97 trades in 59 issues: 63 trades in drams worth AMD 417.1 million and 34 trades in US dollars worth $838.0 thousand (about AMD 301.8 million), for a total of about AMD 718.9 million.

All trades on the secondary government bond market were in drams, with turnover 45.5% below November 3 (AMD 7.97 billion). A Ministry of Finance of Armenia bond maturing in 2050 (GB3150A) led with AMD 2.29 billion in 6 trades at a yield of 9.52% (9.35% on November 3), about 53% of segment turnover. It was followed by bonds GB1135A (AMD 1.05 billion, 4 trades, 8.86%; 8.80% the day before), GN36284 (AMD 517.7 million, 1 trade, 7.40%) and GN60314 (AMD 489.0 million, 1 trade, 8.23%). Excluding repo, total turnover for the day was about AMD 5.07 billion in 124 trades, 44.3% below November 3.

Corporate bond turnover was 36.4% below November 3 (AMD 1.13 billion) but 17.0% above the daily average of the week of October 26–30 (AMD 614.3 million). Electric Networks of Armenia bonds (HELCB1) led with AMD 216.0 million in 4 trades at a yield of 9.00–9.44% (9.30–9.76% on November 3), about 52% of dram-segment turnover. The most trades, 10, were in Hypernova bonds (HYPNB1), worth AMD 65.3 million. In the dollar segment, Araratbank bonds (ARBKBS) came first with $160.9 thousand (about AMD 57.9 million) in 3 trades at 5.85–5.95%, followed by Converse Bank bonds (COVSBP) with $102.8 thousand (about AMD 37.0 million) in 1 trade at 5.11%. Dram trade yields ranged from 7.33% to 13.00%, dollar trade yields from 4.50% to 7.92%.

Equities saw 15 trades worth AMD 6.53 million. Acba bank shares (ACBA) led: 6 trades, 278 shares at an average AMD 20,766.04, AMD 5.77 million, with a closing price of AMD 20,600 (AMD 21,000 on November 3). Telecom Armenia shares (AMTL) also traded: 4 trades, 2,265 shares at AMD 220, AMD 498.3 thousand, as did Unibank shares (UNIBP2: 1 trade, 956 shares at AMD 260, AMD 248.6 thousand; UNIB: 2 trades, 17 shares at AMD 335, AMD 5.7 thousand) and ASCE Group shares (ASGR): 2 trades, 10 shares at AMD 625, AMD 6.25 thousand. One repo trade was concluded in Ameriabank bonds (AMRBBNQ): AMD 17.7 million for 13 days at 7.50% (repo turnover on November 3 was AMD 360.7 million).

The Corporate Bond Market Index in Armenian drams (CBMI_AMD) rose 0.07% to 104.96 and the Corporate 1–3 Year Bond Index in Armenian drams (C3YBI_AMD) rose 0.05% to 104.10. The Corporate Bond Market Index in US dollars (CBMI_USD) was unchanged at 101.68, with a yield to maturity of 5.17%, and the Corporate 1–3 Year Bond Index in US dollars (C3YBI_USD) rose 0.03% to 100.90, with a yield of 4.70%.

On AMX, the corporate bond market totals AMD 1.05 trillion and market capitalisation AMD 380.9 billion. A total of 276 instruments of 65 issuers are in circulation.

CUBE INVEST CJSC became the first investment company to list bonds on AMX. The issue comprises 50,000 bonds with a nominal value of AMD 100,000 each (AMD 5 billion in total), a maturity of 36 months and a hybrid coupon: a fixed 10.50% a year for the first six months, then a floating rate. The bonds are included in the secondary Bbond list, their placement was completed on September 11, and trading starts on November 9. According to Hayk Yeganyan, CEO of the Armenia Stock Exchange, CUBE INVEST has been a member of the exchange since 2022, and the listing broadens the range of issuers raising financing through the capital market.

According to AMX, the US dollar traded at AMD 360.07, the euro at AMD 402.70 and the Russian rouble at AMD 4.4309.