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Placement of shares of JSC Azerenergy on Baku Stock Exchange starts

Business Materials 4 September 2012 17:10
Placement of ordinary registered shares of JSC Azerenergy (production and distribution of electricity in the country) on Baku Stock Exchange (BSE) will start from September 5, issued by the total amount of 200.46 million manat, the BSE said.
Placement of shares of JSC Azerenergy on Baku Stock Exchange starts

Azerbaijan, Baku, Sept 4 /Trend A.Akhundov/

Placement of ordinary registered shares of JSC Azerenergy (production and distribution of electricity in the country) on Baku Stock Exchange (BSE) will start from September 5, issued by the total amount of 200.46 million manat, the BSE said.

Some 10.023 million shares at par value of 20 manat each have been issued within the prospectus.

Thus, the company's share capital will increase from 1.56 billion manat to 1.76 billion manat.

Underwriter of the placement will be Çelsi Kapital.

Azerenergy is engaged in production and distribution of electricity in Azerbaijan. In particular, it sells electricity to JSC Bakielektrikshebeke, which then distributes and sells it in Baku.

Azerenerji has more than 200 stations, six hydroelectric power plants and 13 thermal power plants on the balance.

Official exchange rate on Sept 4 is 0.7853 AZN/USD

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