On July 22 the JSC "Rabitabank" starts accommodation of 492,854 ordinary uncertificated shares of nominal value of AZN 20.29, according to the Baku Stock Exchange.
The issue of shares was included non- quotation list of the Stock Exchange. According to the prospectus of emission, the placement will be through mass offering. Underwriter of the placing will be a stock brokerage company, LLC "Chelsea Kapital".
After full placement of new stocks the authorized capital of the bank will increase for the quarter, and will reach 50 million manat.
Shareholders of the bank are five individuals and 13 legal entities. - 15B -
Economics
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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