AzerGold completes process of increasing its capital by 4.5 times

AzerGold CJSC increased its authorized capital by 216.3 million manats ($127.235 million, or 4.5 times), from 62 million to 278.3 million manats ($163.705 million), Report informs referring to the State Tax Service.

The capital increase occurred due to the increase in the par value of the company's shares in circulation.

Thus, the par value of the share was increased from 31 to 139.15 manats ($81.85 million) per security. There are 2 million shares of the joint-stock company in circulation.

AzerGold was established in 2016 by the order of Azerbaijani President Ilham Aliyev dated February 11, 2015. The main activities of the company are the study, research, exploration, management of non-ferrous and ferrous metal deposits, their extraction, processing and sale, the application of new technologies in this area, the modernization of the material and technical base and its effective use, as well as the implementation of other works related to the development of this industry.