Our team has rich experience in executing large and complex corporate securities transactions in the Armenian capital market and beyond. By upholding our fiduciary duty towards the client, we base our advice and recommendations on facts and objectives only. Based on each client’s circumstances and preferences we offer comprehensive services covering all aspects of dealing with securities: from issuing shares and bonds, to placement, listing, market-making, and underwriting.
Dimension is a licensed Account Operator for the Unified Securities Registry Keeping and Settlement System of the Central Depository of Armenia. As such, the company acts as the intermediary for the following depository services:
1. Registry related services
- Conclusion and re-conclusion of contract for maintenance of Issuer’s registry
- Operations related to securities placement
- Operations conditioned by corporate actions
- Amending information in the registry
- Supplying statements and list of shareholders from the system
2. Securities custody
- Securities account opening and custody
- Change of securities account information
- Operations caused by securities transfer
- Registration of rights for securities pledge
Dimension provides market making services to increase trading liquidity and general marketability of an Exchange traded financial security. With abundant trading liquidity, listed securities will have small trading costs and high demand in the capital market.
- We fill and maintain continuous two-sided quotes (bid-ask) for a guaranteed number of shares.
- We hold a large inventory of the security to satisfy high and small volumes of market orders in a matter of seconds at competitive prices.
- We take the opposite side of any trades to fulfill the market demand for the security and facilitate its circulation. If investors are selling, we are buying, and vice versa.
Dimension provides underwriting services undertaking the following actions in the process of public offering and securities placement:
1. Our team determines the offering structure
with the issuer.
Types of offerings include (but are not limited to):
- Initial public offering
- Secondary offering
- Split offering
- Shelf offering
2. The team determines if the offering is “guaranteed” or on "best efforts" basis:
- In case of guaranteed offering, Dimension agrees to pay the issuer for the whole issue. If the issue is large, Dimension acts as the book runner and assembles syndicate.
- In case of best efforts basis, Dimension returns the unsold shares back to the issuing firm.
3. Dimension files the prospectus and submits the application to the Central Bank of Armenia on behalf of the issuer.
4. With the prospectus in hand, the team conducts “road show” to market the securities through series of presentations and meetings. Dimension gathers initial non-binding subscriptions and gauges the demand for the securities.
5. After CBA makes the registration statement effective, Dimension closes the offering and sells the securities to investors through auction in NASDAQ OMX Armenia.
Merger or acquisition can bring tremendous synergy to an enterprise and provide greater opportunities and competitive advantages. M&A transactions require complex processes including valuation, due diligence, negotiation and completion, hence, excessive diligence and expertise is demanded to close a successful M&A deal.
Dimension provides creative solutions to the most specific needs regarding acquiring or merging, disposition of a part or restructuring, privatization and globalization of businesses.
To maximize your gain from the deal our team:
- takes due diligence to the next level with a factual, thoroughly quantified assessment to assists our clients ward off deal fever, address restricting tax and legal issues, identify synergies and prepare for integration before the transaction is made
- identifies strategic buyers and executes a transaction with the best price for our clients
- cooperates with financial buyers and investors in private equity to assist our clients in making acquisitions and advises on disposals
Dimension provides balance sheet optimization & debt advisory serviced to decrease cost of capital and increase return on assets of private and public companies.
Dimension can be of help by examining company’s balance sheet structure as well as its’ business generating units to identify if there is:
Excess of cash – Dimension generates optimal, duration-matched investment portfolio of fixed income, money market instruments to increase the return on cash.
Insufficient cash – Our team scrutinizes the drivers of cash deficiencies and negotiates with banks (lenders) for credit lines.
High interest rate debt - We propose low-cost funding methods (bonds, loans), negotiate with banks and credit organizations (both in-and outside of Armenia) and refinance the loans that have high interest rates.
Our team evaluates liability structure and investigates open currency and interest rate exposures, proposes adjustments and solutions for improved risk management practices. Our ultimate goal is to optimize the WACC through the right Debt/Equity allocation and improve liquidity of the firm with higher yield on excess funds.
Our front-line specialists conduct independent research and make recommendations to empower our clients to make the right financial decision. Our services include market reports, white papers, articles and specialized research. We also prepare periodic equity and fixed income snapshot, covering stocks and bonds of public corporation which can be distributed to shareholders and perspective investors.
- Define Research Objective
- Determine Research design
- Instrument development
- Data collection
- Data quality checks
- Analysis and visualization
Providing bare numbers is inefficacious for investing.
Our objective is to show the big picture and help our partners harness critical insights and make decisions that will fuel the growth of their businesses.
We create customized, spreadsheet-based financial models to assist decision making in complex yet decisive processes. Robust financial models are pivotal for valuation of securities that are not listed or actively traded in Over the Counter market. A valuation based on inactive market prices, liquidation or distress sale levels is not sufficient to meet the requirements of proper accounting.
Our team has extensive experience in preparing:
1.Discounted Cash Flow (DCF) Model
2.Merger Model (M&A)
3.Three Statement Model
4.Initial Public Offering (IPO) Model
Investments in tangible assets such as infrastructure projects, energy, real estate and transport are included in this theme as well. These alternative investment opportunities provide good diversification and stable cash flows, however, the risk associated with these financial instruments is very specific with a high degree of illiquidity.
We conduct fundamental analysis to derive risk adjusted discount rates, liquidity premiums and other financial and economic metrics to instigate informed decisions and smarter markets.
We fundamentally believe that having a good Idea is not enough. Well documented and comprehensive business plan is essential for fundraising and entrepreneurship. It plays a paramount role in effective communication, disciplined thinking and implementation of strategic plans.
Our team brings all the skills, knowledge and industry expertise to deliver tailored business plans, feasibility studies and financial projections that concentrate on the minutiae of financial, management, human resources and technological matters with respect to the clients’ existing operations, new projects and expansion plans.
1.Determine the purpose of the research;
2.Document all the aspects of the business and create company profile;
3.Conduct industry, sector and product research that include supplier power, competitors, substitute products, buyer power, industry rivalry, government regulations, customer profile, cultural considerations, etc.;
4.Evaluate or initiate marketing strategy, pricing, distribution and promotion;
5.Generate operating plan targeting ownership and management, facilities and equipment, stuffing, production methods, resources;
6.Make financial projections and forecasts, stress tests and scenario analysis;
7.Address legal issues and compliance.