The Baku Stock Exchange placed shares of JSC Nikoil Bank for a total amount of 90 million manat on October 25. This regarded 45 million shares at the price of 2 manat each. The shares were placed behind closed doors.
Earlier it was reported that the authorized capital of JSC Nikoil Bank will be increased to 184,500,000 manat.
The authorized capital increase was planned in the framework of the banking sector rehabilitation program run by the Financial Markets Supervision House over the financial market of Azerbaijan.
In the first stage, the main shareholder JSC Topaz Investments fully redeemed part of the new issue of the bank’s shares in the amount of AZN 60 million, resulting in the bank's authorized capital adjusted to AZN 94.5 million.
Placement of the issue of bank shares at 90 million fully completed the stage to increase the bank's authorized capital to 184,500,000 manat.
Thus, Nikoil Bank in terms of its authorized capital has become one of the first five banks in Azerbaijan. ----71D
Economics
-
On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
-
Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
-
Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
-
While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
Leave a review