The reorganization of Team Telecom Armenia’s staff has been successfully completed with the publication of the initial invitation, attracting about 1000 new investors. The company has distributed 40 million shares with a total value of AMD 8,240 million that can now be freely traded on the Armenian stock exchange. Both individuals and legal entities will have the opportunity to buy or sell these shares.

Hayk Esayan, the CEO of Team Telecom Armenia, expressed his satisfaction with the reorganization, stating, “Our team has successfully implemented another project from our plan. The expansion of the telecom sector in Armenia is our priority, and I am pleased that all of our team members will now be involved in its implementation.”

The reorganization of the company’s staff was carried out by Ameriabank. Arta Hanesyan, the President of Ameriabank’s Management Board, expressed her pleasure with the outcome, stating, “As an active player in the securities market, we have always been concerned about the sector’s development and could not stay away from such a historical event. The successful distribution of shares by Team Telecom and the diverse composition of investors are crucial for the growth of the secondary market in the country.”

A significant number of physical and legal persons, including the ‘Amund-i Akba Aset Management’ fund, have become members of Team Telecom Armenia, making substantial investments. In fact, the fund became the first investor in the Armenian stock market by acquiring shares of the company.

Team Telecom Armenia will now focus on actively expanding its optical NGN network, constructing a 5G mobile network, and establishing international connections throughout Armenia. In addition to their work in digital technologies, the company aims to import and implement innovative software solutions and other digital programs.

Overall, the successful completion of the staff reorganization and the inclusion of new investors in Team Telecom Armenia’s shareholding is an important step for the growth and development of the telecom sector in the country.