New company admitted to Baku Stock Exchange
Baku, Azerbaijan, Oct.23
By Zeyni Jafarov - Trend:
The IBA-Invest company has been admitted to the Baku Stock Exchange (BSE) membership upon request, Trend reports with reference to BSE.
Thus, the number of investment companies included in the Baku Stock Exchange has reached eight. The authorized capital of the new financial institution meets the established minimum for investment companies - 300,000 manat ($176,470).
The volume of operations of the International Bank of Azerbaijan (IBA) with securities is growing rapidly. So, at the end of 2019, the volume of operations of the IBA with securities amounted to 207.7 million manat ($122.1 million), a year-on-year increase of 2.3 times.
“Consequently, a more profitable option is for the bank to have its own investment company in the event of such large transactions with securities,” BSA said.
The decision to create a new investment company was made at a meeting of shareholders of the International Bank of Azerbaijan, held on October 11, 2019.
Alongside the IBA Invest, Unicapital, Pasha Capital, INVEST-AZ, PSG, AzFinance, Xalq Kapital, BTB Kapital, Plato Capital and Co. OJS (the membership temporarily frozen) investment companies are participants of the Baku Stock Exchange.
(1 USD = 1.7 manat on Oct. 23)