Shares of Credo Bank for a total of 1 million manats were posted on Tuesday at the Baku Stock Exchange.
Emission of three thousand ordinary documentary shares of par value of 10,000 manats passed state registration in October. According to the Exchange, all the shares were sold in two transactions (two investors). The underwriting Services were provided by Ltd. Chelsea Capital. Today 21% (6.3 million manats) of the issue has been announced. According to the legislation, issue is held in case of placing half of it.
Paid-up share capital of the bank, thus, reached 26.84 million manat. CredoBank shareholders are 11 individuals and two entities. - 15B -
Economics
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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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