The former President of Azpetrol Holding Rafig Aliyev sold his stake in two packages at Bank of Baku. The transaction took place on the Baku Stock Exchange on December 25.
According to the BSE, on the stock exchange the deal was made in the amount of AZN 11,160,857 or at par value of shares - 15.55 manat. This represents 21.10% of the total shares of the bank.
Parties to the transaction were not disclosed. However, if we consider the structure of the shareholders, it turns out that such shareholding is owned by Rafig Aliyev, who, according to local media reports, is not in the country. He left Azerbaijan after his release from prison, where he spent 8 years and was released on pardon by President Ilham Aliyev. Rafig Aliyev personally had 10.22% of the shares and 9.89% through his ownership of LLC Azinvest.
The other shareholders, according to the annual audit report for 2013, are Ltd NAB Holding - 40%, Ltd. Azpetrol – 28.89% and Elchin Isayev - 10%.
The structure of shareholders of Bank of Baku is unknown. Contrary to the law, the bank does not disclose this information on the corporate website. --08B-
Economics
-
Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
-
Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
-
Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
-
The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
Leave a review