Rarabank Starts Placing Additional Issue of Shares
Rarabank today started placing an additional issue of shares in the amount of 7,316,600 manat.
According to Baku Stock Exchange (http://www.bfb.az/news/2014/11/parabank-asc-nin-sehmlerinin-yerlesdirilmesi/3372), a recognized platform for trading, as a result of placement of securities the bank’s authorized capital grew by 23.2% to 38.887 million manat.
According to BSE, the new placement of shares by Parabank is included in its non-quotation list. The additional issue is divided into 36,583 shares with a par value of 200 manat.
Underwriter of the placement is Unicapital.
Completion of the placement of the additional issue is designed for up to 20 October 2015.
Parabank has a registered capital of 31,570,400 manat and it was established in 1991. Its shareholders are 2 businesses and 18 individuals. --17D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review