Azerbaijan simplifies placement of shares of state-owned companies

The process of placing shares of state-owned joint-stock companies in Azerbaijan is being simplified, Report informs.

Amendments to the law "On Securities Market" are being proposed in this regard.

The document was submitted for discussion at today's meeting of the Committee for Economic Policy, Industries and Enterprising of the Milli Majlis (Parliament) of Azerbaijan.

According to the draft law, henceforth, if new shares of state-owned joint-stock companies (JSCs) are acquired by state bodies (institutions) or other JSCs whose shares are fully owned by the state, these securities will be considered placed upon their registration by the Central Bank of Azerbaijan (CBA).