The Baku Stock Exchange (BSE) confirmed the placement of additional issue of shares of the government-run JSC Azerkosmos. According to the plan, the authorized capital will be increased to 23 million 610.6 thousand manat.
The additional issue includes 1 million 180 thousand 530 shares with a par value of 20 manat each. According to the schedule, the placement of the shares will be completed by August 12 this year. The placement underwriter is LLC PSG Broker.
Thus, in the case of successful operation the authorized capital of JSC Azerkosmos will grow from the current 40 million to 63 million 610.6 thousand manat (+ 59%).
The fully state-run Azerkosmos was created in 2010 to orbit a telecommunications satellite and for management and implementation of operational works. This body also provides services, selects insurance companies, establishes cooperation with satellite operators and conducts research in space. --17D-
Economics
-
In Baku, grappling with growing environmental challenges, experts and policymakers convened on Friday for an international scientific conference titled “Sustainable Environment: Transition to Green Energy.” The event highlighted the urgent need for innovative strategies to combat pollution and advance renewable energy initiatives.
-
Kazakhstan is set to increase its oil transit through the Baku-Tbilisi-Ceyhan (BTC) pipeline by 5.1% in 2024, reflecting growing regional cooperation and diversification in energy routes. According to figures obtained by Turan News Agency, the total volume of Kazakh oil transiting through the BTC pipeline is projected to exceed 1.464 million tons, up from 1.392 million tons in 2023.
-
In a groundbreaking development for Azerbaijan’s energy sector, GL Group, a prominent Azerbaijani oil company, has announced plans to drill the country’s first horizontal well on land, reaching a depth of 4,400 meters with a lateral section of approximately 400 meters. The project, a milestone in the region’s oil exploration history, is set to take place at the Kirsangi-Garabaghly onshore fields.
-
The Central Bank of Azerbaijan (CBA) forecasts an annual inflation rate of 5.1% by the end of 2024, comfortably within the target range of 4% ± 2%. However, recent data indicate that inflationary pressure has significantly eased over the year: in October, the inflation rate stood at 3.4%, slightly down from 3.5% in September. Official data for November have not yet been released, leaving room for speculation about possible year-end adjustments.
Leave a review