Telecom Armenia to convert to OJSC and sell off shares

26 Nov 2021

Telecom Armenia (formerly VEON Armenia), which still trades under the Beeline brand of former owner VEON, is considering reorganising as an open joint-stock company (OJSC) and holding an initial public offering (IPO). A report from ARKA says the reorganisation is part of the telco’s long-term strategy to grow its business. CEO Hayk Yesayan said: ‘By becoming an OJSC, we plan to attract additional investments and demonstrate even more dynamic development results.’

Telecom Armenia is owned by Team LLC (Team.Telecom Armenia), which was founded by Hayk and Alexander Yesayan.

Armenia, Team Telecom Armenia (formerly Beeline)