The authorized capital of the Baku Stock Exchange has been increased
In order to ensure the sustainable development of the Baku Stock Exchange (BSE), the nominal value of the BSE shares has been increased from 200 AZN* to 800 AZN* at the expense of retained earnings on the basis of the decision of the Extraordinary General Meeting of Shareholders. As a result of the increase in the nominal value of the shares, the value of the BSE’s authorized capital increased from 1,260,000 AZN* to 5,040,000 AZN*. It should be noted that the BSE currently has 20 shareholders.
*1 AZN = 0.59 USD is the official currency rate indicated by Central Bank of Azerbaijan throughout the year of 2020