Azerbaijan, Baku / Trend corr I. Khalilova / Director general of AG Leasing company, Azar Mammadov, reported that the company is going to attract strategic investors to the stock. For this purpose an independent international audit of the company's activities for 2006 will be held by Moore
"Negotiations are under way and investors wish to get familiarized with AG Leasing's financial figures along with the level of introduction of corporative management standards. Our company is the youngest functioning leasing company in Azerbaijan for the time being, but we believe it is high time to move from quantity to quality," Mammadov said. He noted that plenty of foreign investors are interested in AG Leasing.
Mammadov did not exclude the possibility of involving the International Financial Corporation (IFC), which has a 17% share in the capital of Azerigazbank, one of the major founders of the company.
"Several potential investors are interested. IFC is a possible one, but not the only one. However, such issues cannot be resolved rapidly, and negotiations can cover half a year or even a whole one," the head of the company declared.
More investors can be involved at the expense of additional emission of stock, but the shareholders of AG Leasing are not interested in selling their stock. The company has already announced doubling its capital by 2mln mantas.
Azerigazbank and Hyperion have a 30% share in the stock of the company at present, whilst Delta Tran has a 25% share and Milio Ltd has 15% of the stock.