YEREVAN, April 11. /ARKA/. The bonds of The Crowdfunding Formula (TCF) company were officially listed on the Armenian Stock Exchange (AMX) on April 7, 2025. TCF is the first technology company in Armenia to issue securities.
“For any business, this represents a great achievement and a dream. It means that the society invests in the company, trusts it. The next stage is to go for IPO. I think the company will do it within a few years as well,” Hayk Yeganyan, General Director of the Armenian Stock Exchange, said at the ceremony.
According to him, the listing of the technology company’s bonds is an important message to all actors that Armenia’s capital market is open to enterprises of all sectors. “A great example of how any company can consider bond instruments to develop its business and enter new markets,” Yeganyan emphasized.
TCF director and co-founder Narek Vardanyan, in his turn, noted that the placement of the bonds was completed much earlier than planned, but the demand was high and not all potential investors had time to buy them. The listing will provide them with such an opportunity.
“We are also pleased to have set a precedent for companies that combine innovation, global thinking and belief in the local market. This is a message to the entire ecosystem,” Vardanyan said.
According to him, bonds are a great tool that enables people to directly participate in the development of companies and diversify their finances, as well as earn higher returns.
In response to ARKA news agency’s question about whether the company is going to go for IPO, Vardanyan said that it is not in the short-term plans, but such a possibility is not excluded. He also said where the raised funds will be directed.
“We are developing quite actively in different markets and, in particular, we opened a branch in China. TCF has quite a dominant position there, which we want to strengthen, increase the number of employees, become more recognizable. The funds will be used mainly for these purposes,” Vardanyan said.
He promised that TCF will increase its capital and return to Armenia.
The placement of TCF bonds with a total volume of AMD 400 million was carried out from January 7 to February 24, 2025 through Dimension Investment Company. The bonds are included in the secondary stock exchange list (Bbond). The nominal value of a bond (a total of 4,000 bonds were placed) is 100,000 drams, coupon yield – 12.75%, circulation term – 36 months. Target trading operations and repo deals are allowed with the securities.
On April 8, TCF LLC granted “Inecobank” CJSC the status of a market maker of bonds.
The Crowdfunding Formula specializes in software development, marketing strategy development and implementation of advertising campaigns. Since 2023, Crowdfunding Formula, Inc. is a subsidiary of an American company providing software and operational support. The company has offices in Yerevan, Newark and Shenzhen (China).-0-
