AGLeasing is expecting its portfolio to reach $7 million by the end of 2006, the company` s general manager, Azer Mammedov told Trend. The size of the current portfolio is $1, 3 million.
Expansion of operations will become possible after the attraction of the International Financial Corporation credits (IFC). IFC in its turn will provide $3 million via the AGLeasing founder Azerigazbank. Mammedov did not exclude the possibility of attracting other credit lines. It is
also preparing to release the stocks on 1m AZM, which will help to attract additional resources. The company `s shareholders have decided to increase the founding capital to 1 million AZM.
AGLeasing was founded with 600.000 AZM (3 billion AZM) shared between the 4 co-founders in equal shares. Each of them has 150 assets with 150.000 AZM value. However, the share will change after the emission payment. The share sizes in the company` s founding capital will be; 30% owned by the Azerigazbank and Hiperion Capital Management, 25% by the Delta Trans LLC and 15% by the Milio Leasing Limited. The formation of the founding capital will be over by the end of April.