Holcim Azerbaijan Shares More Than Halved

Baku / 09.09.17 / Turan: Azerbaijan"s stock market beats new negative records. Shares of the cement giant OJSC Holcim (Azerbaijan) fell to the annual minimum (27 manat 50 gepiks) at a nominal value of 20 manat.

According to the Baku Stock Exchange, at the September 26 auction, 372 shares of this company were sold at a price of 27.50 manat, one and a half manat cheaper than the previous deal. In February, even before the financial indicators of the cement producer were announced, they were given at 66.75 manat per piece. In March, it was announced at the general meeting of shareholders that the company had suffered a loss totaling AZN 27 million. By the end of 2015, Holcim (Azerbaijan) OJSC faced a loss of 99.1 million manat.

The Swiss company Holcim owns a 66% stake in OJSC Holcim (Azerbaijan). At the end of 2015, the state-owned OJSC Azerbaijan Investment Company withdrew from the shareholders" ranks, selling Holcim Auslandbeteiligungs Gmbh 10% of shares, which were acquired in 2007. The amount of the transaction was not disclosed. The European Bank for Reconstruction and Development has a 10% stake in OJSC Holcim (Azerbaijan). -0---