State Committee for Securities registered the issue prospectus of interest- bearing book-entry unsecured bonds of JSC "Vestmark Financial Leasing Investment Company", for a total of 2 million manat. The nominal value per bond is AZN 100, the period is 720 days, and the annual interest rate is 14 %.
According to the prospectus, the placement will be held through public offering at Baku Stock Exchange. Underwriter of the securities was LLC Chelsea Capital.
Vestmark Financial Leasing Investment Company was registered by the end of January this year. At present, the authorized capital of the company is 1.2 million manat. -15D -
Economics
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According to data released by the State Statistics Committee, Azerbaijan’s agricultural sector achieved slight production growth in the first eight months of 2024. The total volume of agricultural production reached 8.723 billion manats, which is 0.8% higher than during the same period last year. However, this growth occurs against a backdrop of increasing food imports, despite significant government subsidies aimed at supporting domestic agriculture.
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Azerbaijan has unveiled strong fiscal indicators for the first eight months of the current year, reporting a state budget surplus that underscores the country’s economic resilience amidst global uncertainties. According to operational data released by the Ministry of Finance, state budget revenues from January to August 2024 reached 25 billion 223.4 million manats, while expenditures amounted to 22 billion 362.4 million manats.
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Azerbaijan has made significant progress in diversifying its energy balance, with renewable sources playing an increasingly important role in the country's electricity production. Operational data for January-August 2024 show that total electricity generation reached 19,235.4 million kilowatt-hours (kWh), marking a noticeable shift towards greener energy.
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Bilateral relations between Azerbaijan and Russia are accelerating, particularly in the agricultural sector, as Deputy Prime Minister Shahin Mustafayev and Russia’s Minister of Agriculture Oksana Lut underscored during their high-level meeting on September 13 in Baku.
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