Shares of Credo Bank for a total amount of 500 000 manats were posted on Wednesday at the Baku Stock Exchange.
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 a single transaction (one investor). Underwriting services were provided by Ltd. Chelsea Capital. On today placed 46% (13.8 million manat) announced issue. According to the legislation issue is held in the case of placing her half.
Paid-in share capital of the bank, thus, reached 34.64 million manat. CredoBank shareholders are 11 individuals and two entities. - 15B -
Economics
-
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.
-
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.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
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.
Leave a review