AtaHolding losses exceeded 35 million manat

Baku/06.01.14/Turan : JSC AtaHolding placed a part of its shares issued in May last year on December 27. The total size of the emission exceeded the volume of losses of the Group in early 2013 .

According to BSE, shares of a nominal value of AZN 4,232,448 were sold to one of the three shareholders in one deal. The existing shareholders are allotted over an 11-month period, the right to purchase shares in the superiority order. The volume of shares to increase the authorized capital of the holding is 38,845,000 manats.

By the end of the holding company unveiled at the corporate site prepared in accordance with International Financial Reporting Standard consolidated financial statements for 2012 , which is endorsed by the audit report of Deloitte & Touche. According to this document , in 2012 the total annual loss of the holding exceeded 3 million manat. At the same time at the beginning of last year formed a loss totaling 35 million manat. Thus, when the paid share capital 83.9 million manat , given 5.5 million manat share in uncontrolled companies , shareholders' equity fell to 61.8 million manat. In the prospectus is not specified, under which project funds are involved . However, it is likely that they are necessary for the holding to restore the lost capital.

In 2012, the assets of AtaHolding increased by 55.4 million ( 21.3 %) due to loans and investments and exceeded 315 million in 2012 , the holding company carried out an aggressive investment policy. According to the statement of cash flows from investing activities for the year of payment on investments reached 80.9 million manat. From the sale of investments have been earned 68.3 million manat.

JSC AtaHolding is one of the few companies in Azerbaijan, which publishes an annual financial report in compliance with the law.

AtaHolding OJSC has operated since 2003. The shareholders are Hughson Management Inc - 51%, Clonmel International Inc - 24% (both registered in the Republic of Panama ) and Asbet Ltd - 25% ( Seychelles ) . The holding last placed its shares amounting to more than 7 million manat in 2010.

According to the structure of assets AtaHolding can be attributed to the top ten holding companies of Azerbaijan. The holding controls 76 % of shares of AtaBank, LLC AtaQida, LLC AtaMarketing, LLC AtaAgro, 49% of Bank VTB (Azerbaijan), 100 % of shares of AtaSigorta, LLC AtaHolding-Georgia and Inter Tourism, 90% of the shares in the companies Ata Tourism, Ata Insaat , Ata Texnologiya and Ata Senaye etc. The holding owns the five-star Excelsior Hotel Baku. - 08B-