Capital of Agroleasing Brought to 195 Million Manat

The government increases the authorized capital of JSC Agroleasing by issuing new shares with a total nominal value of about 119 million manats.

The shares will be sold from Baku Stock Exchange. However, this is a formal procedure, as the new shares are issued for areas of public investment in the capital of the company.

Upon completion of this operation, the authorized capital of JSC Agroleasing will reach 194 million 919.5 thousand manats.

The JSC was established in 2004 and operates under the Ministry of Agriculture. It is engaged in the purchase and sale of agricultural machinery, production lines, fertilizers, and cattle breeding. Under the JSC there are agricultural service enterprises providing paid services to farmers.

Note that state-owned companies in Azerbaijan, as a rule, direct investments in equity, which is not true of non-financial private companies. Therefore, from the 15.9 billion manats stored in the National Depository Center as assets of Azerbaijani issuers, approximately 70% is the share of public joint stock companies. ----08D

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