Shares of Turanbank for a total of 6.2 million manat were posted on 29 October at the Baku Stock Exchange. According to the Exchange, all the shares were sold in a single transaction.
Issue of 5,727 ordinary registered non-certificated shares of 1,082 AZN was registered by the beginning of this month. Underwriting services were provided by Chelsea Capital. The emission was posted in full.
The paid-up share capital of the bank, therefore, increased by 26.1 percent reaching 30 million manat. Shareholders are 21 individuals and five legal entities. - 15B -
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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