BAKU, Azerbaijan, July 3. Finoko Non-Bank Credit Organization (NBCO) LLC plans to issue additional shares in the amount of 500,000 manat ($294,117), Trend reports.
The issue is divided into 50,000 shares with a nominal value of 10 manat ($5.88) per security, the circulation period is 12 months, the coupon rate is 14 percent per annum, and coupon payments are made every 30 days.
Finoko NBCO received a license in 2014; the authorized capital is 4.8 million manat ($2.8 million).
Meanwhile, the turnover of securities on the Baku Stock Exchange (BSE) exceeded 14.9 billion manat ($8.7 billion) from January through December 2022, which is 2 percent less compared to the same period of 2021.
Government securities accounted for 55.61 percent of turnover, or 8.3 billion manat ($4.8 billion).
The turnover of corporate securities on the exchange increased by 93 percent compared to the period from January through December 2021, amounting to 1.5 billion manat ($882.3 million), the growth of repurchase agreement operations on corporate securities amounted to 2.694 percent and reached 101.4 million manat ($59.6 million).
