Baku Stock Exchange arranged the full placement of 8445 shares of JSC AFB Bank on September 24.
BSE reported on September 26 that the shares were purchased by one investor. The bank does not provide for pre-emptive rights for the existing three shareholders. Most likely, the shares were bought up by LLC Gilan, paying 10,682,925 manat at once. This company until recently owned accommodation of 99.57% stake in the bank.
Thus, the paid-up share capital of JSC AFB Bank exceeded 70 million manat. The bank has one dormant subsidiary (AFB Capital with registered capital of 100 000 manat).
JSC AFB Bank was established in July 2008. By the beginning of this year, the shareholders' equity was 42.3 million manat. This year, the shareholders have revised its size three times.
At the beginning of this year JSC AFB Bank assets were 234.3 million manat. --08D--
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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