A new milestone has been reached in Armenia’s capital market: for the first time, an investment firm has listed bonds on the Armenia Stock Exchange (AMX). The listing of bonds by CUBE Invest CJSC expands the range of issuers represented on the exchange and opens up new opportunities for financial sector companies to raise funding through the capital market and finance their growth.

To mark the occasion, the Armenia Stock Exchange held its traditional bell-ringing ceremony, signalling CUBE Invest’s entry into the exchange’s bond market as an issuer.

Starting November 9, investors will be able to trade CUBE Invest bonds on the exchange through banks and investment firms that are members of AMX.

The bonds, with a total nominal value of AMD 5 billion, will be included in the exchange’s secondary Bbond list. The issue comprises 50,000 bonds with a nominal value of AMD 100,000 each. The bonds have a 36-month maturity and offer a hybrid annual coupon rate: a fixed rate of 10.50% for the first six months, followed by a floating rate. Investors will also be able to conduct targeted trades and enter into repo transactions using these bonds.

The bonds were placed on September 11, 2026.

Hayk Yeganyan, CEO of the Armenia Stock Exchange, said:

“We welcome CUBE Invest’s bond listing on the Armenia Stock Exchange, an event of particular significance for our capital market. For the first time, an investment firm is entering the exchange as a bond issuer, broadening the range of companies raising financing through the capital market.

“It is particularly noteworthy that CUBE Invest has been a member of the Armenia Stock Exchange since 2022. Having actively participated in the market as an investment services intermediary, the company is now making use of the same market to finance its own development plans.

“This sets an important example for other financial sector participants, demonstrating that the capital market can serve not only as a platform for providing investment services but also as an effective tool for corporate financing and long-term growth.

“We are confident that this listing will contribute to the further development of the market, broaden the issuer base and create new investment opportunities.”

“For us, listing bonds marks an important milestone in the company’s development. As the first investment firm to list bonds on the Armenia Stock Exchange, we are not only expanding our financial capacity to grow our business but also contributing to the development of Armenia’s capital market.

“We plan to use the proceeds from the bond issue to strengthen the company’s liquidity, develop its infrastructure and expand its technological capabilities. Key priorities will include upgrading our digital platforms, further developing our web and mobile applications, and creating new products that harness the potential of artificial intelligence.

“We believe that the active participation of financial sector companies is essential to the development of the capital market — not only as providers of investment services but also as issuers. From this perspective, we see this step not merely as a new opportunity for our company to grow, but also as a contribution to expanding Armenia’s capital market and creating new financing opportunities,” said Mikael Margaryan, CEO of CUBE Invest CJSC.

Founded in 2017, CUBE Invest CJSC is an investment and brokerage firm operating in Armenia. It provides financial services with a focus on transparency, financial security and client trust. The company has been a member of the Armenia Stock Exchange since 2022 and has since expanded its international partnerships, joining the Association for Financial Markets in Europe (AFME) and the Tabadul platform. With innovation and technological development at the core of its operations, CUBE Invest aims to make investment opportunities more accessible to its clients.

The proceeds from the bond issue will be used to strengthen the company’s liquidity, expand and upgrade its infrastructure, improve its information technology capabilities through the development of web and mobile applications, and develop and launch innovative products using advanced technologies, including artificial intelligence.

The Armenia Stock Exchange will continue to encourage responsible and transparent companies to enter the capital market, helping foster a reliable investment environment and enabling businesses to raise the funding they need to grow through the capital market.