Shares of AGBank in the total amount of AZN 1 million were available at the end of last week at the Baku Stock Exchange.
The issue of 2.5 million ordinary non-documentary registered shares of nominal value of AZN 2 passed state registration in July. According to the Exchange, all the shares were sold in a single transaction. The underwriting services were provided by Caspian Financial LLC. 20% of the announced issue has been posted.
The paid-up share capital of the bank, thus, amounted to 21 million manat. The shareholders are 22 businesses and 51 individuals. - 15B -
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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