The State Committee for Securities by its decision of December 8 suspended the issue of debentures of Vestmark Financial Leasing Investment Company, which totaled 2,000,000 manat, reported on December 11 Baku Stock Exchange (BSE) .
In this regard, securities of the leasing company were removed from the non-quotation list and trade of BSE.
In SCS they told Turan that the reason for the suspension issue is the provision of incorrect information about the paying agency. In the prospectus it is stated that the paying agent is CJSC National Depository Center, where on the request from SCS on this occasion they said that they had no contract with JSC Vestmark Financial Leasing Investment Company. "The issue of the securities can be restored after this deficiency is removed," they explained in SCS.
Note that the placement of bonds of the leasing company began on November 24. The placement underwriter is a brokerage company Invest-AZ. According to the prospectus, placement of the securities should be completed no later than 29 May 2015.
The unsecured bonds are issued in order to expand the lease portfolio of Vestmark Financial Leasing Investment Company. Last year at the rate of 12% per annum it attracted 300,000 manat in this way. Securities of the new issue will be in circulation for three years and promise their customers an income of 14% per annum.
Vestmark Financial Leasing Investment Company was established in January 2013. All the company's shares with par value of 1.2 million manat belong to the sole shareholder - Zarifa Talyb Gyzy Mammadova. -- 08B-
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