Shares of Credo Bank for a total amount of 800 000 manats were posted on Monday at the Baku Stock Exchange.
Emission of three thousand ordinary documentary shares of par value of 10 thousand manats passed state registration in October 2012. According to the Exchange, all the shares were sold in a single transaction (one investor). Underwriting services were provided by Chelsea Capital. To date they have posted 35.3% (10.6 million manat) of the announced issue. According to the legislation, an issue is held in case of placing half of it.
Paid-up share capital of the bank, thus, reached 31.14 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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