Reducing activity of the public sector in the IPO market, as well as trafficking in bonds of the Azerbaijan Mortgage Fund led to the collapse of the corporate securities market in 2012. Market volume fell by 38%, the number of transactions - 1.6%.
Last year, the mass and the private placement of shares amounted to 506.7 million manat. This is 48% less than in 2011. Recall that in 2011 the volume of state injections in the primary market amounted to 824.6 million or 80% of the total volume of the primary market. According to the State Committee for Securities, in 2012, the private sector of the capital market has attracted 186.4 million manat, which is 24.4% more than in the previous year.
The volume of the secondary market has increased over the year-twice and totaled 92.5 million manat. Overall, the market shares (599.3 million manat) decreased by 42%.
It should be emphasized that more than 95% of transactions in securities accrue to the shares, including the secondary market - 84%.
The market volume of debt securities (729.4 million manat) decreased compared to 2011 more than by a third. The volume of outstanding corporate bonds (AZN 71 million) decreased by 61%. - 08D -
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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