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Azerbaijani national railway network operator registers primary issue of shares

Business Materials 14 January 2011 16:30
The State Securities Committee (SSC) of Azerbaijan registered a primary issue of ordinary registered book-entry shares of JSC Azerbaijan Railways totaling 599 million manat, the State Committee said today.
Azerbaijani national railway network operator registers primary issue of shares

Azerbaijan, Baku, Jan.14 / Trend N. Ismayilova /

The State Securities Committee (SSC) of Azerbaijan registered a primary issue of ordinary registered book-entry shares of JSC Azerbaijan Railways totaling 599 million manat, the State Committee said today.

Within the issue 299.5 million shares, with par value of two manat each, were issued. The issue will be carried out through a closed placement.

This issue is the first share placement of the Azerbaijani Railways after its transformation into a joint-stock company.

JSC Azerbaijan Railways is the national railway network operator in Azerbaijan with 100 percent state capital. The company was founded in the summer of 2009 on the basis of the Azerbaijani State Railways, functionally replacing it.

The official exchange rate on Jan. 14 is 0.7974 manat to $1.

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