ArmInfo. The bonds of The Crowdfunding Formula (TCF), one of the leading companies in Armenia providing innovative and non-standard investment solutions, have been listed on the Armenian Stock Exchange (AMX) in the Bbond list. As noted in the AMX press release, TCF is the first technology company in Armenia to issue securities.
By issuing bonds, the company seeks not only to diversify its sources of financing, but also to offer new opportunities to local investors.
Within this tranche, the company issued 4,000 bonds with a total volume of 400 million drams, each with a par value of 100 thousand drams. The coupon yield is set at 12.75%, and the circulation period is 36 months and expires on January 7, 2028. The coupon payments are scheduled to be made quarterly. These bonds were issued on January 7, 2025, the initial placement ended on February 24, and they began to be listed on the stock exchange on April 7. The underwriter for the initial placement was Dimension Investment Company, and the market maker was INECOBANK.
As AMX CEO Hayk Yeganyan emphasized: "Listing of the technology company's bonds is an important message for all market participants. The capital market is open to enterprises of all sectors. This is a great example of how any company can evaluate debt instruments to develop its business and enter new markets."
Director and co-founder of TCF Narek Vardanyan, for his part, noted: "This is an important step in the history of our company's development, symbolizing not only our strategy of sustainable growth and expansion, but also faith in the possibilities and future of the Armenian financial system. The initial placement of bonds was completed ahead of schedule, the demand was high and it turned out that some potential investors did not have time to purchase them, but now they will have such an opportunity on the exchange. We are glad that with this step we have created a precedent for companies that combine innovation, global thinking and faith in the local market - this is a message to the entire ecosystem."
The Crowdfunding Formula (TCF) specializes in software development, marketing strategy development and advertising campaigns. Since 2023, it has been a subsidiary of the American Crowdfunding Formula Inc., providing software and operational support, and having offices in Yerevan, Newark and Shenzhen (China).
