Today the Baku Stock Exchange will take decision on the listing of 100% stake in Bank of Baku on the alternative segment of the quotations of securities.
The brokerage company BoB Broker (subsidiary of JSC Bank of Baku) at the next stage will be carried out exchange transactions for the purchase and sale of shares.
Note that totally outstanding are 3,400,000 shares of Bank of Baku at face value AZN 15.55 each. With authorized capital of 52 million 870 thousand manats in 2013-2014 the bank paid shareholders a dividend of 16 million 168 thousand and 35 million 397 thousand manats respectively. By the beginning of this year, the undistributed profit of the bank amounted to 68.1 million manats.
Currently, the shareholders of Bank of Baku, which is mainly known as a retail bank, are composed of: NAB Holding - 40% (controlled by Nadir and Bahram Oromi), Oil Company Azpetrol – 28.89% (direct shareholder - Ibrahim Mammadov), Hikmet Ismayilov – 21.11% and Elchin Isayev - 10%. ---08B
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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