Baku Stock Exchange on April 24 concluded an insider deal to sell a 51% stake (155,676 shares) of industrial Zeyemkendmash. This is the first transaction of purchase and sale of shares on the stock exchange platform this year.
According to the register of shareholders, about 90% of the shares placed in Shamkir venture for the production and repair of agricultural machinery, owned by JSC AtaSenaye. The company was privatized 10 years ago. At first, there was produced a few assembly of agricultural machinery set of Belarus. But the company was not able to implement them fully and provided services on agro-technical works in Shamkir region. In the following years were also unsuccessful talks with Turkish manufacturers of agricultural machinery for joint activities in JSC Zeyemkendmash. Losses of the company are more than 100 thousand manats.
It is noteworthy that in the group of companies AtaHolding they refuted the message of their member selling a 51% stake in JSC Zeyemkendmash. According to the BSE report, the 51% stake was sold at a price of 1.05 manat under the nominal; value of 1 manat. The deal amounted to 163,460 manat.
The authorized capital of JSC Zeyemkendmash is more than 305 thousand manats.
JSC AtaSenaye includes two industrial enterprises in the Shamkir region.
JSC AtaHolding was founded by three offshore companies, which, according to international and local media, are owned by the daughters of President Ilham Aliyev. The holding also includes banks, insurance, leasing, telecommunications companies, hotels, etc. business structures. - 08B-
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