Thursday, June 22 2023 16:50

ArmInfo. If we look at the structure of the financial sector in Armenia, then banks are predominant, and our citizens do not have enough opportunities in the context of investment and savings.  Armen Nurbekyan, Deputy Governor of the Central Bank of Armenia, said during the initial public offering (IPO) of the Team Telecom Armenia telecommunications company. 

In this regard, he stressed that given the current situation, one of  the priority strategic directions for the government and the Central  Bank is the development of the capital market.

Noting that for the first time a telecommunications company is  holding an IPO, Nurbekyan said that now citizens will be able to  invest in the real sector. "This is extremely important, and we hope  that this will become an infectious example for other enterprises,"  said the deputy head of the Central Bank. In this vein, he stressed  that one of the most important conditions for the development of the  capital market and business in general in Armenia is high-quality  corporate governance.

At the same time, Nurbekyan did not rule out that there would be  enough individuals interested in the IPO.  He stressed that the  government bond market of Armenia is sufficiently developed, as  evidenced by the high interest in this segment. In this context, the  deputy head of the Central Bank expressed hope that the situation on  the corporate bond market would also improve.

It should be reminded that at the beginning of this year, the  telecommunications operator of Armenia, Telecom Armenia OJSC,  announced that is undertaking its initial public offering (IPO). The  company allocated 40 million stocks with a total volume of 8 billion  240 million drams. The nominal value of one share is 100 drams, and  the offering price is set at 206 drams.

According to the document, the issue of shares will take place on the  fifth business day from the date of registration of the prospectus  (05/31/2023), i.e. June 7, and it is planned to complete the  placement of shares on October 31.

For more detailed information on the procedure for acquiring and  selling shares on the MyInvest platform, follow the link:  https://www.youtube.com/watch?fbclid=IwAR1LXGfqIPqKCSboSUQqhtewzwHC7023E0vPLr  LSnesWublibLzSYmZ7lNs&v=SwyN5p7JLLY&feature=youtu.be .