Team Telecom Armenia showcased its 2023 successful initial public offering (IPO), the building of a next-generation network, the updating of mobile stations, the start of the Team Energy project, and other initiatives.
Team Telecom Armenia, an Armenian broadband and telecommunications firm, summarized company-related improvements and network enhancements in Armenia in its annual report. As part of the year’s developments, Team Telecom Armenia noted in its official release its successful initial public offering (IPO), the building of a next-generation network, the modernization of mobile stations, the start of the Team Energy project, and other initiatives.
IPO Achievement
As the first telecom firm in Armenia, Team Telecom Armenia claimed to have launched its shares on the stock market through primary placement. A total of 8 billion 240 million AMD worth of shares, or around 40 million shares, were distributed, increasing the number of stockholders by 1000. The business announced that it will use the money obtained for several projects, including the introduction of 5G mobile networks and the extension of the fiber optic NGN network throughout Armenia.
Next-Generation Network Growth
In addition, the business declared that the NGN network building in over a dozen cities and villages in other marz and large towns in Syunik marz was completed. With a capacity of 25,000 Mbps, this high-speed network now serves 223,000 homes across many villages in Armenia.
Upgrades for Mobile Stations
Furthermore, the organization announced that it has improved the dependability and caliber of internet usage in Armenia by repurposing 34 mobile stations and adding additional representative points to data centers located in Frankfurt and Amsterdam.
Additional Updates
The launching of the GeoForce Games Cloud service, the introduction of Team Energy fast charging stations, and other CSR initiatives were among the other advancements.
