ArmInfo. "Telcell", a leading payment settlement company in Armenia, has conducted an initial issuance of its ordinary non-documentary shares with a volume of 1.540 billion drams (AMD). The issue of shares was launched on September 18 this year, as noted in the prospectus for the share offering.
The par value of one share is set at 400 drams, and a total of 3.850 million units have been issued. The allocation of these shares is planned to be completed by November 30 this year inclusive. The share allocation is managed by Armbrook, an investment company.
A key feature of the offering is the ease of purchasing Telcell shares through the Telcell Wallet application Telcell management intends to: "Distribute at least 50% of our annual profits as dividends to our new shareholders." ArmInfo was unable to obtain information from either the company or the underwriter of the issue regarding whether the company's shares will be listed on the Armenian Stock Exchange (AMX) and participate in exchange trading.
