Azerbaijan has signed a major deal for the sale of corporate securities. Details of the transaction have not been disclosed.
Baku Stock Exchange (BSE) announced generalized indicators of the OTC market shares as of August 21, according to which the depositary has registered a deal for the sale of approximately 63.5 million shares totaling more than 127 million manat. The name of the Issuer is kept secret.
Judging by the volume of the transactions it can be assumed that it was an insider transaction. However, information about the insider has not been updated in BSE since December of 2013.
In August 2011, in order to ensure the transparency of the State Securities Committee (SSC) were adopted the "Rules of transactions, purchase and sale of registered investment securities," according to which the depositary BSE provides detailed information about the OTC. The Exchange, in turn, is obliged to make public her on the corporate website. The adoption of this document was made public in December 2011, and the Exchange adhered to these rules only 2.5 months - from January to early March 2012. Later the Exchange adopted its own rules of disclosure of information about OTC, the essence of which is the arithmetic generalization of this information on the issuer in the financial, industrial and other sectors of the economy, whose securities have been the subject of sale.
SSC, international financial institutions (World Bank, European Union, SECO), which cooperate with the agency, do not respond and do not comment on the illegal actions of the BSE. --08B--
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