Commercial Bank OJSC Atrabank starts on November 29 this year to accommodate 100 thousand ordinary registered uncertified shares with par value of AZN 400, informs BSE.
The issue of shares has been included in the quotation list of the Exchange. According to the prospectus, the placement will be by mass suggestion. Underwriting services are provided by Ltd. Standard Capital.
After full placement of the new shares the authorized capital of the bank will increase by 4.8 times and will reach 50,424,000 manat.
The controlling stake of Atrabank (73.9 %) belongs to the family of the chairman, Elmikhan Nabiyev. -15D-
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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