OJSC Unibank starts from April 25 this year to accommodate 1,102,950 preferred non-documentary registered shares of nominal value of AZN 2.72, informs BSE.
Issue of shares included in the quotation list of the exchange. According to the prospectus, placement will be held by the mass demand. Underwriting services are provided by Ltd Unicapital.
At full placement of new shares authorized capital of the bank will grow by 4.9% to reach 64.57 million manat.
Among the shareholders there are the European Bank for Reconstruction and Development (15.15% equity) and the German Investment Corporation DEG (8.33%). - 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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