Baku / 19.09.16 / Turan: The investment company AzFinance starts rendering market maker services on the sale of shares of nine non-financial companies in Azerbaijan.
According to the decision of the BSE Board, the minimum size of quotations for the purchase and sale of the shares of the companies will be 5,000 AZN and the quotation spread will be 5%.
According to the observations by Turan, this year annual reports in the media have been published only by two (Cenubtikinriservis and Sumqayit Chorek) of the companies exhibited. The issue of shareholder dividends has been declared by three JSCs (Cenubtikinriservis, Bakinsaatsenaye and EVRASCON). Two companies (AZENCO and Baki Ixtisaslasdirilmis Mexanizasiya-7) are part of holding companies (Azenco Group and Mega Holding, respectively).
In addition to the above-mentioned JSCs, quotes are also available for the shares of JSC Baki Tikinti Materiallari, Savalan and Dernegulsenayetikinti.
It is noteworthy that the investment company AzFinance has not provided information on the price of buying and selling shares of these joint-stock companies with a nominal value of AZN 2 each.
Prior to this the investment company AzFinance and Azerbaijan’s stock market in general provided the liquidity of the stocks of only one issuer, JSC Holcim (Azerbaijan): with a nominal value of 20 manats the stocks were purchased at 53.40 manats and offered to investors at 56 manats.
The market maker role is the creation of liquidity for securities. ------08B
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