On 13 September the Baku Stock Exchange held a full offering of shares of JSC AzerEnergy with the total nominal value of over 200 million manat. The shares were purchased by the sole shareholder of the public joint stock company - the State Committee on Property.
The shares were issued in August this year.
State operator for the production and distribution of electricity in Azerbaijan was funded in 1998. However, the issue of shares took place only in 2008. Previous public offering by AzerEnergy was held in December 2011. Issue of shares is primarily due to government investment in fixed assets of the company.
Thus, the share capital of JSC AzerEnergy reached 1,760.4 million manat. This is the highest registered capital of public and private companies in Azerbaijan. - 08D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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