A new investment company established in Azerbaijan

Baku. 29 June. REPORT.AZ/ 'PSG-Broker' LLC has changed its organizational-legal form and name.

Report informs, the company declared to become 'PSG-Broker Investment Company' CJSC. Special edition of 'Vergiler' (Taxes) newspaper of the Ministry of Taxes states.

Notably, in accordance with law 'On securities market', which entered into force on July 15, 2015, period of licenses, issued to the companies engaged in broker-dealer activities in the stock market, asset management in Azerbaijan, have expired at the end of last year. These companies have to change their organizational-legal form and name to return to the stock market again as well as to obtain a license from the Financial Markets Control Chamber as an investment company.

5 reorganized companies - 'PASHA Capital Investment Company' CJSC, 'AzFinance Investment Company' CJSC, 'Capital Management Investment Company' OJSC, 'Unicapital Investment Company' OJSC and 'Invest-AZ Investment Company' CJSC - have already been issued the licenses. 'Demir Investment Company' CJSC is expected to apply to the chamber in the near future to obtain a license.