'Aqrolizinq' OJSC soars authorized capital 70%

Baku. 6 October. REPORT.AZ/ The authorized capital of “Aqrolizinq” OJSC under the Ministry of Agriculture will be increased by 232 mln AZN or 70.38% and rise to 561 627 540 AZN from 329 627 540 AZN.

Report informs citing the company.

"The funds allocated to “Aqrolizinq” from the state budget for the purchase of the necessary agricultural machinery in order to improve cotton growing in Azerbaijan will be converted into the authorized capital of the joint stock company. As a result, number of the company's shares in turnover with nominal value of 2 AZN each will rise to 280 831 770 from 164 813 770", “Aqrolizinq” reported.

Notably, "Aqrolizinq" has been operating since 2004. Its shares belong to the state by 100%.