Regulatory Alerts2021-04-27
Regulations on Issue, Registration and Circulation of Shares of Joint-Stock Companies Created from State Enterprise Transformations
The Financial Markets Supervisory Authority of Azerbaijan regulates the issue, registration, and circulation of shares for joint-stock companies established through state enterprise transformations. Upon receiving a transformation order and supporting documents from the State Committee on Property Issues, the Authority completes state registration within fifteen days, granting issuers placement rights and refusing applications containing non-compliant or inaccurate information. Subsequent trading and alienation of these shares follow civil code and privatization legislation, with the National Depository Center maintaining the official shareholder register based on final sale reports submitted by the Committee.
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