Shareholders of JSC AtaHolding fully acquired the shares on the additional issue of June 2013. At the finish line, June 4, were purchased the remaining 24% of the shares of the new issue.
According to the promulgated Baku Stock Exchange information, from May 6 to June 4 was paid 32,112,500 AZN of the 38.845 million AZN of the announced issue holding. This holding company formed by three offshore companies, combines several companies and has share participation (directly and through subsidiaries) in a number of companies, including 48.99% equity stake in VTB Bank (Azerbaijan).
Thus, the paid-up share capital of JSC AtaHolding is 122 million manats.
Recall that the holding company was formed in the beginning of the first term of presidency of Ilham Aliyev (2003) and is considered a form of business of the ruling family. Its shareholders are three companies from Panama and the Seychelles, which mainly belong to two of his daughters - Leila and Arzu. They recently officially supervise another family conglomerate LLC Pasha Holding. - 08B-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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