Electricity Distribution Company�s Capital Increased by 65%

Baku / 05.10.17 / Turan: The Cabinet of Ministers decided on October 3 to increase the authorized capital of Azerishig OJSC by 575 million manat or 65%.

According to the document, the company"s capital is brought up to 1 billion 460.6 million manat by issuing 287.5 million new shares. In accordance with regulatory acts, public investment in the capital of state-owned companies in the subsequent period is sent to their authorized capital. In 2016, investments in the development of the electricity distribution network amounted to 261 million manat.

Azerishig OJSC completed the years 2015-2016 with a loss of 25.6 million manat and 31.3 million manat, respectively. -----08D

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