Friday, June 2 2023 19:26

ArmInfo."Telecom Armenia" OJSC (trademark: Team Telecom Armenia) has issued and is allocating stocks  through a public offering, giving everyone the opportunity to participate in the development of the company, make an investment, share the success and become the shareholder of Team.  

According to the press service of Team Telecom Armenia, the company  plans to allocate 40 million stocks with a total volume of 8 billion  240 million drams. The offering will be carried out from 7 June to 31  October of this year inclusively.  

"Team Telecom Armenia is the first company in the telecommunications  sector undertaking its IPO in Armenia. With this step, we are  becoming more open and public, forming a more transparent way of  working and will share our successes with both subscribers and future  shareholders. Due to team work, the company has ensured stable  financial growth in recent years and is taking the next bold step  already in the financial sector. Due to the new investments, we will  implement our ambitious plans faster, together developing the  telecommunications sector, digital technologies and the country's  economy," says Hayk Yesayan, General Director of Team Telecom  Armenia.

The company will use the raised funds for the rollout of the fiber  optic NGN network throughout Armenia, the launch of the 5G mobile  network and the activation of new international channels. Being  engaged in the field of digital technologies, the company will also  pay huge attention to the introduction of modern digital tools and  solutions and the implementation of other ambitious projects.  

The stock prospectus of "Telecom Armenia" OJSC has been registered by  the decision of the Central Bank of Armenia No. 1/288A as of  31/05/2023. "AMERIABANK" CJSC is acting as Lead Arranger for the  offering.  The procedure of stock purchase, the electronic version of  the prospectus and the IPO announcement can be found here.  

Team Telecom Armenia provides Internet, digital television, mobile  and fixed phone services in the territory of Armenia. Since 2021, the  company has started the rollout of NGN (Next Generation Network)  network, which is unique in the region, with 25 Gb/s speed and the  implementation of 25G-PON technology.