Shares of United Credit Bank for a total of 900,000 manat were placed at Baku Stock Exchange.
Issue of 17,500 ordinary registered uncertified shares of nominal value of 2,000 manat 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 Ltd. Chelsea Capital. So far they placed 8.3% (2.9 mln) 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 23.01 million manat.
The major shareholder (88.78% of equity) is LLC United Business Co.. The remaining shares are divided between two individuals. - 15B -
Economics
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Azerbaijan’s State Tax Service is grappling with technical issues on its online portal, e-taxes.gov.az, preventing the submission of mandatory social insurance and health insurance tax declarations. The problem has emerged at a critical time, as the 20-day quarterly period for submitting declarations began on October 1.
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The INMerge Innovation Summit, organized by PASHA Holding, continued in Baku on Friday. The summit brought together leading industry leaders, startups, and investors in the fields of fintech, e-commerce, artificial intelligence, and digital business.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new regulation titled “Procedure for the Transfer of Regulatory Functions and Duties for Flight Safety Supervision,” aligning with the country’s obligations under international civil aviation agreements.
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