Authorized capital of Azerbaijan Railways soars

Baku. 17 August. REPORT.AZ/ The Cabinet of Ministers introduced an amendment to the resolution on approval of the charter and structure of Azerbaijan Railways CJSC (AR), dated February 15, 2010.

Report informs, authorized capital of the company increased by 79,915,594 AZN or 11% up to 806,061,960 AZN.

To this end, the number of AR shares in circulation with face value of 2 AZN each increased by 39 957 797 units - up to 403 030 980.

Financial Markets Supervision Authority of the Republic of Azerbaijan (FIMSA) entrusted to resolve issues arising from this resolution.

Notably, this is the second case of increasing the charter capital of state-owned joint-stock companies in August.

The Azerbaijani Government has changed Charter of “Azeristiliktechizat” JSC about 2 weeks ago and increased its authorized capital by 7.1 times up to 136,684,980 manat. The increase in equity was the same amount as loss of the company at the end of 2016. In other words the loss of “Azeristiliktechizat” JSC was covered.