UniBank Changed Structure of Share Capital
In anticipation of the new issue of shares of UniBank with a total nominal value of AZN 6 million on August 27, the structure of its share capital changed. Positions in the bank were lost by one of its founders in 2002, Igor Yakovenko, who owned 17.5% of the shares of the bank.
As is clear from the prospectus of issue of shares, he refused membership in the Supervisory Board of the bank selling his share to the Chairman of the Supervisory Board of JSC UniBank Eldar Garibov, who brought his shareholding from 50.8 to 65.3%.
JSC UniBank was created in 2002 by the merger of Promtekhbank with MBank. In the first bank Igor Yakovenko was a decisive person. Yakovenko is co-founder and chairman of the Supervisory Board of CJSC Azerbaijan Electronics.
The European Bank for Reconstruction and Development owns 15.15% of the shares of UniBank.
Note that the paid-up share capital of JSC UniBank is 64 million 565 thousand 184 manats. In the new issue of shares current shareholders have preferential right to purchase in one day. The shares must be completed no later than the 30th of December this year. - 08B-
Economics
-
The 12th International Caspian Energy Forum commenced today in Baku, organized by the Caspian Energy Club in collaboration with Enermus, bringing together over 500 delegates from across the Caspian-Black Sea and Baltic regions.
-
The World Bank has recommended that Azerbaijan cut subsidies in its water sector to enhance system sustainability and address the escalating issue of water scarcity, Stephanie Stollmeister, Manager of the World Bank Representative Office in Azerbaijan, reported.
-
Last week, the Central Bank of Russia raised the interest rate from 18% to 19% annually. The decision to increase the rate was made against the backdrop of rising inflation expectations among the public and businesses.
-
Azerbaijan’s Cabinet of Ministers has announced a detailed timeline for the mandatory transition of labor contracts to an electronic document format, in accordance with a decree issued by the President of Azerbaijan on June 28, 2024. The resolution, signed on September 17 by Prime Minister Ali Asadov, outlines phased implementation deadlines for different categories of employers, with the aim of modernizing labor documentation and improving efficiency.
Leave a review