The shares of Team Telecom Armenia, after placement through an initial public offering, were officially listed on the armenian Stock Exchange, entering the free market. From now on,all individuals and legal entities have the prospect to buy and sell the mentioned shares through the trading system of the Armenian Stock Exchange through the mediation of market participants.
During the initial public offering, the company allocated 40 million shares worth 8 billion 240 million AMD. As a result of the placement, around 1,000 investors became shareholders of Team Telecom Armenia.
“This is a historic event for the telecom sector of armenia. It is indeed the first time that a telecommunications operator enters the capital market of Armenia by listing on the stock exchange. our team was able to implement a project that many years ago seemed like a far-fetched idea,but today it is a reality,which I am sure will activate the capital market of our country and form a new culture of investing,” said Hayk Yesayan,General Director of Team Telecom Armenia.
“I congratulate Team Telecom Armenia for showing such courage, because making such a decision and later its prosperous implementation requires courage and professional implementation.Actually, successful companies are those that are not afraid to be accountable to society. Now Team Telecom Armenia is a public company and is accessible to a wide range of investors. I hope this will become a positive impulse in the Armenian business environment and will encourage other companies to attract funds in this way and become companies of public importance,” said the General Director of the Armenian Stock Exchange. Hayk Yeganyan.
Team Telecom Armenia will direct the involved funds to the expansion of the fiber optic NGN network throughout Armenia, the construction of the 5G mobile network and the activation of new international channels. Working in the field of digital technologies, the company will also pay great attention to the implementation of modern digital tools and solutions and the implementation of other enterprising projects.
Team Telecom Armenia shares can be purchased through the trading system of the Armenian Stock exchange by approaching any bank or investment company that is a member of the Armenian Stock Exchange, opening a brokerage account and submitting an submission for the purchase of shares. Details: www.amx.am.
The allocation of shares of Team Telecom Armenia was carried out by Ameriabank.
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