Azerbaijan, Baku / corr Trend I.Khalilova / Azer Mammadov, the Director General of the Leasing company AG Leasingm, said that his company is eager to continue talks, by the end of 2007, with the international organizations to become their shareholders. Talks are carried out with the International Finance Corporation, the European Bank for Reconstruction and Development, and the Asian Bank for Development, on opportunities for attracting direct credit resources.
In this respect, Moore
By force of prudential norms in the banking systems, AG Leasing could not use the IMF's credit line, opened for one of its shareholders AGBank. As 10% ($1mln) of its capital has been invested in the banks, AG Leasing company could not receive anything out of the IFC credit.
According to Mammadov, many foreign investors are interested in AG Leasing, but it is a very difficult process and it is very difficult to expect the rapid resolution of the issue.
The IFC has a 17% stake in the capital of Azerigazbank since last year. Entrance of strategic investors is possible at the expense of additional stock issue, if AG Leasing shareholders are willing to sell their share. The company announced a doubling of its capital to AZN 2mln. The head of the company announced that shortly it is planned to adopt a resolution of increase the capital to AZN 1mln or by AZN 500,000.
At present Azerigazbank and Hyperion each hold a 30% stake in the company's capital, while Delta trans holds 25%, and Milio Ltd holds 15%.