The shares of United Credit Bank totaling 1 million manat were placed at Baku Stock Exchange.
Issue of 17.5 million ordinary registered uncertified shares of nominal value of AZN 2 was registered by the end of February this year. According to the exchange, all shares were sold in two transactions (two investors).
Underwriting was provided by Chelsea Capital LLC. By now they have placed 11.1% (3.9 million manat) of the announced issue. According to the legislation, an issue is held in the case of placing a half of it. The paid charter capital thus reached 24.01 million manat.
The major shareholder (88.78 % of the equity) is LLC United Business Co. The remaining shares are divided between two individuals. - 15B -
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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