In June, three banks decided to send their retained earnings totaling 56.6 million AZN to increase the authorized capital.
On 25 June the State Securities Committee provided new registration numbers to securities of JSC AFB Bank, Capital Bank and Khalg Bank. All of them converted their shares with a higher rating. Thus, the nominal value of 15 million shares of JSC Capital Bank increased from 10 to 12 manats and 39 gepiks, 47,202 shares of AFB Bank - from 1,109 AZN to 1,265 AZN and 3,630,300 shares of Khalg Bank - from 50.6 to 54.3 manat.
In June, only one issuer (Turanbank) decided to raise capital by mass supply. On the exchange 27 investors bought the entire amount of the supply, which is 3 million manat. - 08D-
Economics
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The State Oil Company of Azerbaijan (SOCAR) and Italy's Eni S.p.A. have signed a Memorandum of Understanding (MoU) focused on energy transition. Azerbaijani Economy Minister Mikail Jabbarov announced the agreement on his account on the social network "X".
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Azerbaijani Economy Minister Mikail Jabbarov met on July 29 with Ali Kibar, Chairman of Turkish conglomerate Kibar Holding, to discuss strengthening bilateral cooperation, boosting investment in industrial production, and supporting partnerships in the energy sector.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved the application form specified in Article 30.1 of the Competition Code. This decision aims to align with the President’s decree No. 1051-VIQ dated December 2, 2023, and address regulatory requirements related to the implementation of the Competition Code.
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Azerbaijani President Ilham Aliyev has issued a decree amending the Land Code of the Republic of Azerbaijan, effective January 2025. The legislative adjustments aim to refine the management and use of agricultural land and enhance regulatory processes.
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