Team Telecom Armenia launches IPO

By bne IntelliNews June 27, 2023

Team Telecom Armenia, a leading Armenian telecommunications company, has officially announced the commencement of its initial public offering (IPO). Armenian bank Ameriabank will oversee the placement of 40mn shares with a total value of about AMD8.3bn ($21.5mn).

Following the successful execution of the IPO, Team Telecom Armenia's shares will be listed on the Armenian Stock Exchange, bolstering the company's visibility and rating.

The funds raised through the IPO will be directed towards expanding the fibre optic NGN network across Armenia, launching a 5G mobile network, activating new international channels, and prioritising the implementation of modern digital tools and solutions in digital technologies.

During his opening speech at the IPO ceremony, Hayk Yesayan, the General Director of Team Telecom Armenia, expressed gratitude to all the attendees for commemorating this significant day and celebrating their achievements together.

"The initiation of the initial public offering underpins our commitment to transparent practices, growth, and the development of the telecommunications industry. The IPO will fortify our infrastructure, augment our market presence, and provide an opportunity for investors to join us on this exciting journey. We look forward to shaping the future of Armenia's telecom sector in collaboration with the shareholders of Team Telecom," stated Yesayan.

Armenian Finance Minister Vahe Hovhannisyan addressed the steps the ministry took to promote the development and activation of the capital market during his speech at the event. Hovhannisyan emphasised the importance of Team Telecom Armenia's decision to embark on primary share placement as a significant impetus for the capital market's progress.

"The fact that Team Telecom Armenia is pursuing the primary placement of shares serves as a fundamental impetus, indicating that the energy channeled towards capital market development is gradually being capitalised. We will continue working towards the establishment of a deep and liquid market for domestic public debt. Our commitment to this process ensures a positive impact on the development of the corporate market," commented Hovhannisyan.

Artak Hanesyan, Chairman of Ameriabank's Directorate-General, highlighted the inclusive nature of the public placement in his address. He emphasised that anyone can become a Team shareholder online and automatically, making it a genuinely public offering.

Investors can access Team Telecom Armenia shares through Ameriabank's MyInvest platform, available on the MyAmeria application. This online system enables investors to purchase shares, maintain constant access to their investment portfolio, and obtain detailed information.

"It is a great honor for Ameriabank to play a pivotal role in the public placement of Team Telecom Armenia's shares, which we consider a historic event for the Armenian capital market. The formation of a diverse and extensive list of investors guarantees an active secondary market," noted Hanesyan.

The official IPO event was attended by Minister of Finance Vahe Hovhannisyan, Vice President of the Central Bank Armen Nurbekyan, ambassadors accredited to Armenia, representatives of international organisations, government officials, as well as potential shareholders, colleagues, and teammates of Team Telecom Armenia.

#Arrmenia #telecom #bnebanker

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