JSC Muganbank decided to increase the authorized capital to 55.2 million AZN. Yesterday the Baku Stock Exchange (BSE) reported that the State Securities Committee (SSC) registered the issue prospectus of ordinary registered book-entry shares of the bank in the total amount of 5 million AZN.
The total production is 25,000 securities with a par value of 200 manats each. The placement underwriter is JSC Tekhnika Capital Management.
The total capital of the bank, according to 1 July, is 52.4 million manats. Muganbank is not threatened with merging, as the level of its total capital (52.4 million AZN) meets the requirement of the Central Bank for the minimum size of this segment (50 million).
JSC Muganbank was founded in 1992. It has 44 branches and 6 offices in the capital and outside, and a representative office in Moscow. --17D-
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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