AZERBAIJAN’S EQUITY MARKET ON RISE

16.09.2007 [18:29]
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Azerbaijan`s equity market is developing, Gunduz Mammadov, chairman of the State Securities Committee under the President of the Republic of Azerbaijan, told a news conference Friday at the headquarters of the New Azerbaijan Party.

Chairman Mammadov told of the development of the equity market over the past eight months of this year. According to him, the equity market has been achieving 1.5-2-fold growth every year.

Chairman said share issue surged four times. 97 shares worth AZN 650 million have been issued this year from 95 ones worth AZN 160 million in 2006.

Issue of corporate bonds doubled from AZN 24 million last year to AZN 42 million in 2007.

The progress was achieved in issuing short-term state bonds. There were 35 issues worth AZN 160 million this year from 22 issues worth azn 54 million in 2006

Issue of inscribed deposit certificates increased 70 times in comparison with that in 2006, increasing from AZN 2 million to 140 million.

The registration of mortgage certificates has seen a great progress as their number increased from 45 in 2006 to 1486 in the current year.

The committee inspected 468 joint-stock companies to protect the rights of investors, imposing fines in the amount of AZN 27 million.

In conclusion, Gunduz Mammadov responded to journalists` questions.

AZERBAIJAN’S EQUITY MARKET ON RISE

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