Pashinyan: People should be allowed to subscribe for shares in ZCMC

Armenian Prime Minister Nikol Pashinyan has announced plans to give people the opportunity to acquire shares in key enterprises through open public subscription mechanisms.

“Whatever scenario we pursue, at a certain point we must ensure open subscription for shares of Electric Networks of Armenia (ENA),” Pashinyan told a cabinet meeting on Thursday, referring to his government’s plans to nationalize ENA.

He stressed the need to create a system that not only enables institutional and corporate investment but also allows individuals to invest their personal savings.

“This means enabling citizens to acquire shares. I want to remind everyone that we have a similar strategic goal in the case of the Zangezur Copper-Molybdenum Combine (ZCMC),” he noted. “Armenian citizens should have the opportunity to invest their savings, acquire a stake in the company and either pass it on to their children or use it in a way that aligns with their personal goals. This should be one of the outcomes and endpoints of the processes we have initiated.”

The Armenian government owns 21.8% of ZCMC’s total shares.