Shares "Nikoil Bank" for a total of 120,000 manat posted on Wednesday at the Baku Stock Exchange.
Issue of 6 million ordinary registered uncertificated shares of nominal value of AZN 2 passed state registration in August of this year. According to the exchange, all shares were sold in a single transaction (one investor). Underwriting was provided by Chelsi Kapital LLC. By today they have placed 43.6 % (5.234 million manat) of the announced issue. According to the legislation, an issue is held in the case of placing a half of it.
Paid-in share capital of OJSC Nikoil Bank thus stood at 27.734 million manat. - 15B -
Economics
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The Cabinet of Ministers of Azerbaijan approved new rules for the transportation of goods by rail on September 3, aimed at enhancing the efficiency of freight transport across the country’s railway network. The decision is part of a 2015 presidential decree designed to improve the operations of the state-owned Closed Joint-Stock Company “Azerbaijan Railways.”
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On September 3, the Cabinet of Ministers of Azerbaijan approved a new list of fixed assets that are the subject of leasing contracts and exempt from value-added tax (VAT) on imports, in accordance with recent amendments to the country's Tax Code.
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The Cabinet of Ministers of Azerbaijan has announced a series of amendments to the customs duty regulations, aimed at revising tariffs related to scrap metal and waste. The changes are part of the implementation of a recent presidential decree and are set to come into effect in 60 days.
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The Agricultural Subsidy Council has announced the introduction of a new type of subsidy. According to the institution's decision, starting next year, an additional 60 manat per hectare subsidy will be provided for fields using modern irrigation systems. It is stated that subsidies for repeated crops will only apply to irrigated areas starting from 2025.
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