JSC Amrahbank is beginning placement of the issue of unsecured bonds worth $ 10 million.
According to the Baku Stock Exchange, the new securities prospectus is divided into 100,000 bonds in denominations of $ 100 per security. Placement of the bonds is expected on the open subscription.
Their term of treatment will be 73 months at a yield of 9% per annum. Underwriter of the transaction is JSC AzFinance Invest.
JSC Amrahbank with registered capital of 39 million 844.4 thousand manat has been in the market since 1993. Its main shareholder is the International Investment Bank (45.84%), as well as individuals owning the remaining stake. - 17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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