First Investment Company Established in Stock Market

Brokerage Company AzFinance Invest (a structure of the group of companies Gilan Holding) announced the name change.

In June this year the company was transformed into a closed joint stock company. From now it will be called AzFinance Investisiya Sirketi. It is the first among the 12 existing brokerage companies that announced the transformation into an investment company, as the law "On the Securities Market" entered into force on 15 July 2015 requires.

According to the above-mentioned law, the term of the license broker, dealer companies and asset management companies is valid until January 1, 2016. Until that date, all these companies have to apply to the State Securities Committee to obtain a license to operate an investment company. This will determine the minimum capital requirement for these companies.

The authorized capital of JSC AzFinance Investisiya Sirketi is 1 million manat.

In June this year AzFinance Invest Ltd. ranked second in the ranking of brokerage companies for brokering the purchase and sale of government and corporate securities with an index of 32.5 million manat. ---08B