ASCO holds event on the occasion of issuing new bonds
Qabil Ashirov
Read moreAn "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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