Monday, July 24 2023 16:17

ArmInfo. The next competitive stage of the CaseKey 2023 business problem solving initiative has  started at the American University of Armenia, the participants of which this time should make proposals for the strategic development of the Team Telecom Armenia telecommunications operator in the context of the latter's IPO.

In total, out of 500 young people who applied for participation, 230  students from 15 Armenian universities will take part in the  competition, who will have only 72 hours to present their solutions.  The winner will receive a stake in the company. However, according to  CaseKey founder Arshak Karapetyan, for its part, the initiative does  not announce any rewards, so that young people are motivated not by  money, but by gaining knowledge and establishing contacts.

"This is a competition for solving business problems, which is aimed  at developing the skills of young people, applying the knowledge  accumulated in universities to the practical solution of business  problems," he explained.

According to Karapetyan, the competition is held for the third time.  He noted that since its inception, the initiative has been  cooperating with Team Telecom Armenia, whose assistance is growing  year by year. 

"This is important for us, because Team group companies are  dynamically developing companies that are changing the culture in the  Armenian business environment. We are happy that they are ready to  listen to young people, accept their decision-making methods and even  take them to their team," he said.

Wishing good luck to the participants of the competition, Team  Telecom Armenia CEO Hayk Yesayan noted that the company has strategic  projects, as a result of which the company will be able to increase  the value of shares from year to year. In particular, according to  the strategy of Team Telecom Armenia, over the next 3 years, the  value of the company's shares should rise 1.4-fold.

<The tasks we set for young are both simple and complex. Because it's  unprecedented in our market when a public service telecommunications  company is coming out with an IPO. That is, the contestants will face  a challenge that no one in Armenia has ever faced. We are sure that  what we do not see inside, our young guys will be able to notice with  a look from the outside>, Yesayan noted.

He emphasized that the team offering the best solutions will not be  limited to rewards as an incentive, the company intends to involve  them in the Team group, helping them in their further development.

"Because we always need specialists, or rather "flight of ideas" in  the context of introducing innovative solutions in order to remain  more relevant and modern in the market," he said.

Of the 22 teams participating in the competition, the TOP-6 will be  selected and announced on August 6th.

After the presentation of the Team Telecom Armenia business case, the  University hosted panel discussions on the topic: "Initial public  offering: opportunities for the economy, companies and society" with  the participation of Deputy Governor of the Central Bank Armen  Nurbekyan, Investment Banking Director of Ameriabank Arno Mosikyan,  CEO of Team Telecom Armenia Hayk Yesayan, CEO of Byblos Bank of  Armenia Hayk Stepanyan, Secretary General of the Union of Euro-Asian  Stock Exchanges Konstantin Saroyan.

In June of this year, "Telecom Armenia" OJSC (trademark: Team Telecom  Armenia) undertook its initial public offering (IPO).  The company  allocated 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.  The nominal value of one share is  100 drams, and the offering price is set at 206 drams. Ameriabank  acted as Lead Arranger for the offering. 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.

Team Telecom Armenia is a completely Armenian brand and a powerful  team of thousands of professionals. Team provides Internet, digital  television, mobile and fixed communication services throughout the  Republic of Armenia.  As the successor of the first telecommunication  system in Armenia, "Team" combines the rich experience of the first  communication operator with modern technologies.  Since 2021, the  company has begun construction of a unique NGN (Next Generation  Network) in the region with a speed of 25 Gb/s with 25G-PON  technology. In the near future, mobile stations operating throughout  Armenia will be connected to this network.  Team Telecom Armenia also  provides GSM 900/1800, 3G (UMTS) and 4G (LTE) mobile communications,  fixed telephony, IPTV and OTT digital television services as well as  Internet access using FTTH, FTTB, VDSL and ADSL technologies.  Within  the framework of corporate social responsibility programs, Team  implements projects that contribute to the creation of  Armenian-language content, supports startups and Hi-Tech events in  Armenia.  Before May 2022, the company operated under the Beeline  brand.