Shares Turanbank for a total of 3.692 million manat posted on Monday on the BSE.
Issue of 9,243 thousand ordinary registered non-certificated shares of nominal value of AZN 1,082 passed state registration in early March of this year. According to the exchange, all shares were sold in the 21 deals (21 investors).
Underwriting services were provided by Chelsea Capital LLC. On today placed 48.33% (4.833 million manat) announced issue. According to the legislation issue is held in the case of placing her half. Paid charter capital thus reached 34.833 million manat.
The shareholders acting since 1992 are 21 physical and legal entities 5. - 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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