Since Beginning of Year Cash Auctions Sold 1,458,400 Shares
At the 12 cash auctions conducted since the beginning of the year from 25 % to 44 % of 18 joint-stock companies with a total nominal value of more than 2.6 million manat were sold. However, in all cases the shares were sold at 50 % of face value.
Total sold at auction were 1,458,400 shares. The nominal value of 1,329,000 of them was AZN 2, and the remaining ones were 0.50, 0.25 and 0.05 manat.
As of July 1 this year, the state represented by the State Committee for Property Affairs had equity in 296 JSC.
In the course of privatization in 1997 in Azerbaijan shares were sold at about 1,500 JSC. -08B-
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