In January and February of this year, local companies raised from the capital market 211.5 million manat to increase the authorized capital. This is 9 times more funds raised through corporate bonds.
According to BSE , the main figures of the sector are the placement of the International Bank of Azerbaijan (110.8 million manat ), Capital Bank ( AZN 70 million ) , which accounted for 85 % of raised funds for two months.
JSC "AtaHolding" in February raised equity capital by 2.5 million manat, 2.4 million of which immediately sent to bring to AZN 10 million authorized capital of its subsidiary - JSC "AtaS?gorta".
Last month, the shareholders of Atrabank, Gunaybank and Amrahbank contributed to the authorized capital of their companies around 25.7 million manat.
The corporate bond market securities were placed of four financial companies (Finance Leasing, Joint Leasing Company, Credit House and Parabank) and one industrial building company (OJSC Accord). Rates on these CB fluctuate in the range of 8-15% per annum.
On the securities market in Azerbaijan active are banks and insurance companies, which experts attribute to the need for capital adequacy on the attracted deposits, as well as regulatory requirement on the minimum level of its share capital. Other companies, most of which were formed in the course of privatization of state property, almost avoid turning into the capital market. - 08B-
Economics
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Azerbaijan’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
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The 104th meeting of the Commonwealth of Independent States (CIS) Economic Council was held in the Russian capital, with representatives from member states discussing enhanced economic collaboration and key regional initiatives. Azerbaijan was represented by First Deputy Prime Minister Yagub Eyyubov.
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Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
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In 2024, Azerbaijan will double its gas supply to Bulgaria, which not only uses this gas for its own needs but also partially sends it to its Balkan Gas Hub and, by agreement with SOCAR, organizes the transit of various volumes to its neighbors.
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