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March, 2024
March 2024
Amundi-Acba made the first direct investment in the equities of an Armenian company
20/10/2023 11:18

Amundi-Acba made the first direct investment in the equities of an Armenian company

Amundi-Acba Asset Management CJSC made a major investment from the assets of the Balanced and Conservative Pension Funds under its management in the equities of Telecom Armenia OJSC by participating in the initial public offering.

The company’s investment is 20% of the IPO being distributed, which is equivalent to 1,648 billion AMD. 

This is a precedent in nearly ten years of activity carried out by Armenian pension funds, when funds are directly invested in the real sector of the economy by acquiring shares of an Armenian company. 

“The investment made by Amundi-Acba not only increases the diversification of pension funds’ investments, but also gives the opportunity to beneficiaries of Balanced and Conservative funds to become indirect shareholders of Telecom Armenia OJSC thus benefiting from its growth prospects. With this step, Telecom Armenia OJSC contributes to the development of the capital market in Armenia and can be a good example for other companies”, said Jean Mazedjian, CEO at Amundi-Acba.

Expressing gratitude for Amundi-Acba’s investment in the Armenian company, Hayk Yesayan, the General Director of Team Telecom Armenia, stated: “Amundi-Acba’s action has transformed approximately 400,000 fund beneficiaries into indirect shareholders of our company.” This substantial investment from a prominent international financial entity serves as a testament to our alignment with the technology sector’s growth and underscores the compatibility of our long-term strategic objectives. We sincerely appreciate the trust you have towards our team.”

The offering will be carried out until 31 October of this year inclusively.

Ameriabank acts as the sole arranger for the offering of Telecom Armenia shares.

Amundi-Acba Asset Management was founded in 2013. The company manages three mandatory pension funds having around 377 billion assets under its management in as of September 30th, 2023. The company’s shareholders are the French Amundi , Europe’s leading Asset Manager with nearly 2 trillion Euros in assets under management as of September 30th and Acba Bank, which is one of the largest financial institutions in Armenia, is represented throughout the country with 65 branches.

Team Telecom Armenia is an entirely Armenian brand and a powerful team of thousands of professionals. The company has launched an Initial Public Offering (IPO), giving everyone the opportunity to become a shareholder, make an investment, participate in the development of the company and share the success. Team builds a unique NGN (Next Generation Network) with a bandwidth of 25 Gb/s and provides Internet, digital television, mobile and fixed communication services throughout Armenia.

Ameriabank is a leading financial and technology company in Armenia, a major contributor to the Armenian economy, with assets exceeding AMD 1 trillion. In the course of digital transformation, it has launched a number of innovative solutions and platforms going beyond banking-only needs of its diverse customer base, thus creating a dynamically evolving financial technology space.  

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