The shares of "Bank of Azerbaijan" for a total of 4.7 million manat posted on Friday on BSE.
Issue of 825 thousand ordinary registered non-documentary shares of 20 manats passed state registration in August 2012. Underwriting Services Ltd. has "Respublika Invest".
According to the Exchange, all the shares were sold in two transactions (two investors). Today posted 81.2% (13.4 million AZN) announced issue. According to the legislation issue is held in case of placing half of it.
Paid-up share capital of the bank, thus, reached 46.9 million manat. Shareholders of Bank of Azerbaijan acting since 1993 are three individuals and one entity, including Sanan and Kanan Mammadovs (by 42.97% equity), Mubariz Mammadov (13.31%) and NEM Holding ( 0,74%) .. - 15B -
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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