Azerishig carries out its work with delay – A loan received from Finance Ministry

15:52 - 26.05.2021


May 26, Fineko/abc.az. This year, national electricity supplier Azerishig will increase its authorized capital from AZN 1.678 bn up to AZN 2.149 bn, increasing it by AZN 470.8 million or 28.05%.

ABC.AZ reports that despite the fact that in 2019 Azerishig began measures aimed at increasing the authorized capital on the basis of Cabinet Ministers’ order. The process was not completed in 2020 because of structural changes in state bodies, and it is expected to finish it in 2021.

The capital increase will be carried out due to the additional paid-up capital in the amount of AZN 325.8 million and the transfer to the authorized capital of the debt in the amount of AZN 145 million received in previous years from the Ministry of Finance. The transfer of this debt from liability to equity capital will increase the company's net working capital by about AZN 70 million.

 

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