Armenian broadband and telecommunications company Team Telecom Armenia, in its annual review, summarised the developments surrounding the company and the network improvements undertaken in Armenia. In its official release, Team Telecom Armenia highlighted its successful IPO, the construction of a new-generation network, the upgrading of mobile stations, the launch of the Team Energy project, and other programs as part of the year's developments.
Also Read: Team Telecom Brings NGN to Over 21,000 Premises in Syunik, Armenia
IPO Success
Team Telecom Armenia claimed to be the first telecom company in Armenia whose shares were listed on the stock exchange through primary placement. Approximately 40 million shares, with a total value of 8 billion 240 million AMD, were distributed, increasing the number of shareholders by 1000. The company said it would utilise the funds raised for expanding the fiber optic NGN network throughout Armenia, launching 5G mobile networks, and other initiatives.
Next-Gen Network Expansion
The company also announced the completion of the NGN network construction in major cities of Syunik marz and in more than a dozen cities and villages in other marz. Currently, 223,000 households in various settlements in Armenia are covered by this high-speed network, boasting a bandwidth of 25,000 Mbps.
Mobile Station Upgrades
Additionally, the company reported the reequipping of 34 mobile stations and the addition of new representative points in data centers in Frankfurt and Amsterdam, enhancing the reliability and quality of internet usage in Armenia.
Also Read: Ucom Starts Mobile Network Upgrade for Enhanced Services in Armenia
Other Updates
Other developments included the launch of Team Energy fast charging stations, the introduction of the GeoForce Games Cloud service, and various corporate social responsibility programs.
