Armenian authorities intend to organize a free subscription to ZCMC shares - Prime Minister
YEREVAN, June 26. /ARKA/. One of the strategic goals of the Armenian authorities is to organize a free subscription to the shares of the Zangezur Copper and Molybdenum Combine (ZCMC), Armenian Prime Minister Nikol Pashinyan said at a meeting of the Armenian government.
Thus, according to him, Armenian citizens will be able to use their savings to purchase shares and leave them as an inheritance to their children or use them as they wish.
"I would like to state that this should become one of our end points and results," Pashinyan said.
Earlier, in December 2024, he announced plans to put the Armenian government's stake in ZCMC up for IPO.
About ZMMC
ZMMC is located in the Syunik region in southern Armenia, bordering Iran and Azerbaijan. The plant, which is one of the largest companies in Armenia, exploits the ore of the Kajaran copper-molybdenum deposit. ZCMC traditionally leads the list of 1000 top taxpayers in Armenia.
In September 2021, Industrial Company JSC acquired 60% of ZCMC shares and donated 25% of its share to the Armenian government. In August 2022, 6.875% of ZCMC shares were transferred to the RA government. Thus, the state's share in the plant is 21.875%.
