Shares of Credo Bank totaling 1 million manat posted on Monday on the BSE.
Emission of 3 thousand ordinary documentary registered shares with par value of AZN 10 passed state registration in October 2012. According to the exchange, all shares were sold in two transactions (the two investors). Underwriting was provided by Ltd. Chelsea Capital.
So far there has been placed 57.7% (17.3 million manat) of the announced issue. According to the legislation, an issue is held in the case of placing its half.
Paid-in share capital of the bank, thus, reached 38.14 million manat. CredoBank shareholders are 11 individuals and two entities. - 15B -
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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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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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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