Shares of AGBank for a total amount of 500 manat were placed 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 three transactions (three investors). The underwriting was provided by Caspian Financial LLC. 30% of the announced issue has been placed.
The paid-up share capital of the bank, thus, reached 21.5 million manat. The shareholders are 22 businesses and 51 individuals. - 15B -
Economics
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As 2024 comes to a close, Azerbaijan finds itself at a crossroads—holding a prominent position in certain sectors of the global economy but still grappling with issues that hinder broader socioeconomic development. From energy exports to logistics corridors, the country has carved out a niche, yet cracks in its socioeconomic fabric are becoming harder to ignore. Let’s delve into the numbers and listen to expert opinions on Azerbaijan's global standing.
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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