More than 15,000 investors placed orders for new shares of state bank
More than 15,000 investors have placed more than 20, 000 orders for new shares of state-owned "International Bank of Azerbaijan" (IBA), subscription for which began since 11 June.
This was stated by chairman of the Bank's board Abbas Ibrahimov.
According to him, about 4, 000 new investors have been engaged only last week, which is a record high.
"25% of our potential shareholders are young people. More than 85% of orders are placed through digital channels. 34% of share subscriptions are in the regions," the chairman emphasized.
Finance
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On November 19, Finance Minister Samir Sharifov stated in the Milli Majlis (National Assembly) that fines issued to citizens in Azerbaijan sometimes do not reach the state budget. According to him, a new software system has been developed to address this issue and ensure proper oversight of fine payments.
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‘Baku Stock Exchange' (BSE) has started its work since 19 November to take part in the annual meeting of the World Federation of Exchanges (WFE), which will end on 22 November.
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There is additional potential in Azerbaijan associated with budget receipts from leasing of state property.
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In 2025, AZN 1,162.6 million is forecasted to be allocated from the state budget to 56 public legal entities in Azerbaijan.
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