On 9 July Baku Stock Exchange held a deal on the sale of 5% of shares of Bank of Baku.
The brokerage company BoB Broker (subsidiary of JSC Bank of Baku) refused to give away the parties of the insider transaction.
In circulation there are 3,400,000 shares of Bank of Baku, par value of 15.55 manats each. Yesterday's auction regarded 170,000 shares.
It is noteworthy that despite the high stock returns, the deal was framed by the face value. In 2014, the yield of a share (for unpaid dividends) amounted to 10.41 manat.
Prior to this transaction, the shareholders of JSC Bank of Baku consisted of LLC NAB Holding - 40% (controlled by Nadir and Bahram Oromi), Oil Company Azpetrol – 28.89% (direct shareholder - Ibrahim Mammadov), Hikmet Ismayilov -21.11% and Elchin Isayev - 10%.
It is assumed that one of the parties of yesterday’s transaction was Elchin Isayev. ----08B
Economics
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