Team Telecom Armenia announces successful public offering of shares

ArmInfo. About a thousand investors became shareholders of Team Telecom Armenia. According to  the company's press service, the initial public offering of 40 million shares of Team Telecom Armenia worth AMD 8.2bln was successfully completed. Ameriabank CJSC acts as market maker. 

It is reported that significant investments came from institutional  investors. One of the latest is the management company of the pension  fund "Amundi-AKBA Asset Management", which acquired 20% of the shares  of the telecommunications company Team Telecom Armenia, which  corresponds to 1.6 billion drams. Thanks to this transaction, about  400 thousand beneficiaries of the Fund indirectly became shareholders  of Team Telecom Armenia.

"Our team has implemented another project that promotes a change in  thinking. For us, the development of the telecommunications sector in  Armenia is a priority, and we cannot but rejoice that from now on our  shareholders will also take part in the implementation of strategic  programs," noted Team Telecom Armenia CEO Hayk Yesayan.

In turn, the Chairman of the Directorate, General Director of  Ameriabank Artak Anesyan emphasized that, being an active player in  the securities market, the Bank has always contributed to the  development of the sector and could not ignore such a historical  event. He noted that as a result of the effective cooperation between  Team and Ameriabank, a successful placement of shares was carried out  and a diversified composition of investors was formed, which is an  important prerequisite for having an active secondary market.

According to the source, the company will use the raised funds to  expand the high-speed fiber optic network NGN, build a 5G network,  and activate new international channels. Working in the field of  digital technologies, Team Telecom Armenia will also pay great  attention to the implementation of modern digital tools and the  implementation of other ambitious projects.

This June, Telecom Armenia OJSC began issuing 40 million ordinary  shares of class A with an issue volume of 8.240 billion drams. The  nominal value of one share is 100 drams, and the placement price is  set at 206 drams. It was planned to complete the placement of shares  on October 31 of this year.

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.