OJSC Expressbank plans to start from August 28 this year, placing 31,479 ordinary registered non-documentary shares of AZN 273.20, the BSE said.
The issue of shares is included in the quotation list of the exchange. According to the prospectus, placement will be by the method of mass supply. Underwriting services will be provided by Unicapital LLC.
At full deployment of the new shares the authorized capital of the bank will increase by 10.9% to 87.41 million manat.
Shareholders are four legal entities, including LLC Adore (42% equity) and LLC Azenko Group (40%). - 15B -
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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