Shares of Kredo Bank to a total amount of 300,000 AZN were placed at the Baku Stock Exchange on Wednesday.
The issue of 3,000 shares with face value of 10,000 AZN passed through the state registration in October 2012. According to the Baku Stock Exchange, all shares were sold during one deal (one investor). Chelsea Capital LLC provides the underwriter services.
80.3% (24.1 million AZN) of the issue has been placed.
According to the law, the issue is considered to take place if half of it has been placed.
Therefore, the paid authorized fund of the bank reached 44.94 million AZN. The shareholders of Kredo Bank are 11 physical and 2 juridical persons.—0—
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review