It became known, who controls the corporation Accord

Industry - Construction Investment Corporation Accord published the prospectus of unsecured bonds with a total nominal value of AZN 50 million. Funds from the sale of securities of one of the largest holdings in Azerbaijan will be used to fund various projects, mainly for production purposes.

According to the prospectus, the offering of securities will start from the 18th of November and will be completed within 180 days. Bonds denominated in AZN 1000 and a yield of 11.75 % per annum will be in circulation for 1095 days.

The first issue of bonds Accord (yield 12%) in the same amount was produced in 2010. The corporation could realize 38,316 units of bonds. At the time of the issuance of new bonds Accord has credit debts totaling over $ 160 million manats.

The prospectus of bonds of the corporation for the first time made ??public the names of the new shareholders, as well as the person controlling it. Recall that the corporation was founded in August 2010 by the merger of the two companies - OJSC Accord Insaat Senaye and Yeni Insaat Consulting. In January 2012, the Corporation announced an increase in the authorized capital from 24 million to 84 million manat. Prior to the merger Ilgar Hajiyev was the sole shareholder in JSC Accord Insaat Senaye. He now owns 24.5 % of the shares of the corporation. Exactly the same belongs to a Daria Musallam oglu Veliyev. The controlling stake of Accord is owned by VIP Estate, which was established shortly before the founding corporation - July 2010. Director of this company is Sayid Huseyn Aliyev.

The audit report Industry - Construction Investment Corporation Accord for 2012 notes that this is actually a commercial company manages and controls Ashraf Kamil. He also owns an 8% stake of AtaBank, 0.1% of shares Bank VTB (Azerbaijan), and 99 % of shares of Synergy Group.

The Corporation has subsidiaries and representative offices in six countries. It also has a 50 to 100 % interest in 24 companies in Azerbaijan and other countries.

According to the financial report, in 2012, the assets of the corporation grew from 572.7 million to 620.9 million manat. If the nominal share capital of 84 million manat, the beginning of 2013 the holding losses reached 19.4 million manat.

In 2012, the income of Accord amounted to about 180 million manat, which is 45.5 % more than in 2011. Net income amounted to 821.8 million manat. In the previous year's net profit reached AZN 11.4 million.

It should be noted that the corporation Accord is one of the leading contractors of infrastructure projects financed from the state budget. - 08B-


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