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Azerkosmos forms authorized capital

24 May 2011 14:05 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. State Committee for Securities has registered the issue prospectus of ordinary registered shares (AZ100100929P) of Azerkosmos OJSC.

Committee says nominal cost of one share is AZN 20. General number of shares is 2 mln. Shares will be placed by private placement..

Recall that, according to Azerbaijani President Ilham Aliyev, Azerkosmos, which shares are owned by the government, established under the Ministry of Communications and Information Technology in order to launch national telecommunications satellite into orbit, its management and implementation of maintenance works.

Executive body of Azerkosmos consists of 3 persons â€“ chairman and two deputies. Chairman appointed by the President of Azerbaijan and his deputies - the Ministry of Communications and Information Technology. Regulations were confirmed by the Cabinet of Ministers in the end of December, last year. At present, Rashad Nabi Nabiyev chairs the OJSC.