UATE has issued securities totaling AMD 1.5 billion

The Union of Advanced Technology Enterprises (UATE) has issued securities denominated in Armenian drams with an annual yield of 13%, totaling AMD 1.5 billion, becoming the first non-profit organization in Armenia to issue securities.

As stated by UATE CEO Sargis Karapetyan in his address to representatives of the business community on the occasion of the issuance, the provision of Armenian legislation that allows non-profit organizations to use investment instruments to achieve their statutory objectives is no longer merely declarative, but has now become a practical and fully implementable strategy.

The funds raised will be invested in UATE projects, specifically aimed at the development and international strengthening of DigiTec, the largest annual technology event in Armenia and the region, the expansion of the organization, as well as the launch of the UATE Powerhouse project.

The securities are being placed on the market by Sirius Capital, a leading brokerage company. The securities are available to both Armenian and international investors through Sirius Capital’s advanced digital platform. The minimum investment amount — is AMD 10,000.

According to Ararat Mkrtchyan, Founder and CEO of Sirius Capital, this initiative is not only one of the most interesting projects he has encountered in his professional practice, but also one of the most remarkable precedents in Armenia’s securities market in recent years, opening the door for other non-profit organizations to enter the market.

It is also noteworthy that UATE’s subsidiary plans to issue bonds under similar terms. In the event of a successful issuance, the acquired securities will be converted into bonds in accordance with the conversion terms.