Azerbaijani company admitted for listing on Baku stock exchange

By  Trend

The Azerbaijani food company Seba OJSC has been admitted for the listing on the Baku stock exchange (BSE), the stock exchange said in a statement Aug. 27.

The company’s shares will be quoted in the alternative market, the message says.

In total, 2,395,296 shares with the primary trading value of each share amounting to two manats have been registered for trading.

Seba OJSC company was established in 1996 through reconstruction of material and technical base of Devechi poultry farm which was put into operation in 1981. The Devechi poultry farm successfully passed the privatization process in 1997 in accordance with the first state privatization program.

The work for restoration of the existing production facilities, installation of up-to-date equipment, repair and adjustment of the existing machines and plants, and so on was started at the poultry farm in January 2002, and the enterprise was set ready within six months to produce the finished products.

The company was granted a loan in the amount of 13 billion manats, which was aimed at restoring the production activity. The experienced and qualified personnel, who previously worked at the same enterprise, were involved in the production activity.