Seventh specialized auction for the sale of shares
The State Committee for Property announced the conducting of the seventh specialized money auction for selling the shares of the privatized corporations. Investors are offered a controlling packets ogf the shares of the three joint-stock companies in the country.
Fifyt five per cent of shares of "Gence Temir Qurashdirma" (12,330 units) and "Agcabedi Tedaruk" (10,077), as well as 69.88% of shares of "Agcabedi gol-baliqchiliq" (42.606) are offered at the auction. Nominal value per a share is AZN 2. Usually, little money orders are made at the auction, and therefore, the shares are placed below the nominal.
The auction will be held from August 26 to 30 at the Auction center for the organization of trading in Baku and its five area offices in the cities of Ganja, Sumgait, Shirvan, Lankaran and Sheki. Previous auction was held in April this year. 08D
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