16:10 | 02.06.23 | News | 14135

Team Telecom Armenia is undertaking its initial public offering (IPO)

"Telecom Armenia" OJSC (trademark: Team Telecom Armenia) has issued and is allocating stocks through a public offering, giving everyone the opportunity to participate in the development of the company, make an investment, share the success and become the shareholder of Team.

The company plans to allocate 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.

"Team Telecom Armenia is the first company in the telecommunications sector undertaking its IPO in Armenia. With this step, we are becoming more open and public, forming a more transparent way of working and will share our successes with both subscribers and future shareholders. Due to team work, the company has ensured stable financial growth in recent years and is taking the next bold step already in the financial sector. Due to the new investments, we will implement our ambitious plans faster, together developing the telecommunications sector, digital technologies and the country's economy," said Hayk Yesayan, General Director of Team Telecom Armenia.

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.

The stock prospectus of "Telecom Armenia" OJSC has been registered by the decision of the Central Bank of Armenia No. 1/288A as of 31/05/2023. "AMERIABANK" CJSC is acting as Lead Arranger for the offering. The procedure of stock purchase, the electronic version of the prospectus and the IPO announcement can be found here.