ASCO Holds Event On The Occasion Of Issuing New Bonds
(MENAFN- AzerNews)
Qabil Ashirov read more An 'Opening Bell' event was held at the Baku stock exchange on
the occasion of the release of new bonds of Azerbaijan Caspian Sea
Shipping CJSC (ASCO), Azernews reports.
Eldar Abdullayev, the Head of the Baku Stock Exchange, made a
speech at the event and said that the issue of bonds carried out by
ASCO through the Baku Stock Exchange has a successful result of the
measures taken in the development of the financial sector in
Azerbaijan, and will contribute to the development of the financial
sector, as well as play a special role in the formation of new
investment opportunities for citizens.
ASCO chairman Rauf Valiyev said that the profits from the bonds
will contribute to the development of ASCO, which is one of the
oldest companies in Azerbaijan currently operating and annually
ends its activities with profit. According to him, the debt of the
Shipping Company is now at zero level:
'Our goal is that we do not get a loan with a state guarantee,
but to get the necessary loans independently.'
The funds received from here will be directed to the expansion
of the company's activities outside the Caspian Sea, as well as to
the purchase of new types of larger vessels for cargo
transportation in international basins.
The chairman of ASCO expressed his confidence that the issued
bonds will affect the revival of the country's securities market
and create profitable and reliable investment opportunities for our
citizens.
Azerbaijan Caspian Sea Shipping bonds will be placed on the Baku
Stock Exchange by subscription method
According to the Baku State Exchange, on December 29, 2022, by
the decision of the Baku Stock Exchange CJSC (BSE) Listing
Committee, bonds of ASCO with a value of 100m (one hundred million)
US dollars were listed in the premium market segment.
On March 3, 2023, bonds of Azerbaijan Caspian Sea Shipping CJSC
with a total value of 100m (one hundred million) US dollars will be
placed on the Baku Stock Exchange by subscription method. The
underwriter of the placement is PASHA Capital Investment Company
JSC.
Azerbaijan Caspian Sea Shipping company is one of the biggest
marine companies in the Caspian Sea. The company was founded in
1858 and owns more than 200 vessels.
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