From 4 July 2026, the Government Decree N 970-N takes effect, introducing eligibility criteria for valuators authorized to determine the market value of shares and other securities.
Such criteria are:
- Only audit firms are eligible to perform these valuations.
- Eligible audit firms must have generated more than AMD 250 million revenue in audit service during the preceding financial year.
- To ensure independence, the valuator must not have provided services during the previous three years to:
- the party commissioning the valuation;
- the company whose shares or securities are being valued; or
- their shareholders or members.
The aim of the new regulation is to enhance the independence, reliability, and transparency of share and securities valuations, where an independent valuation is required or permitted under Armenian law.
Companies should take these new requirements into account when selecting an independent valuator.