BAKU, Azerbaijan, Feb.11
By Zeyni Jafarov – Development:
The Baku Inventory Change (BSE) elevated the par worth of shares from 200 manat to 800 manat via the retained earnings, Development stories referring to the BSE.
The rise was made to be able to guarantee sustainable growth of Azerbaijan’s capital market and on the premise of the choice of the shareholders’ extraordinary assembly.
In consequence, the approved capital of the BSE grew from 1.26 million manat ($740,000) to five.04 million manat ($2.96 million).
Earlier, the Central Financial institution of Azerbaijan (CBA) introduced about contemplating the difficulty of more practical enchancment of laws within the subject of the securities market. In line with the CBA, the native capital market requires important growth, and at present, the banking sector can take part within the capital market solely via creating funding corporations, which, nevertheless, will increase its prices.
The Baku Inventory Change was established in 1997 and at present has 20 shareholders.
(1 USD = 1.7 AZN on Feb.10)
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