Temiz Sheher raises capital more than 18-fold

Temiz Sheher raises capital more than 18-fold
Temiz Sheher JSC, dealing with the accommodation, disposal and recycling of all waste in Baku and Absheron peninsula, has increased its capital by more than 18 times.
According to a report of the State Securities Committee (SSC) of Azerbaijan published on its website, JSC has registered the issue prospectus of ordinary registered shares for a total amount of 9.15 million manat.
The issue placement will be carried out through increasing the nominal value of one share from 0.5 million manat to 9.15 million manat.
The main reason for the establishment of Temiz Sheher JSC is the improvement of the ecological situation in Baku and Absheron. Its activities cover several key areas, in particular, construction of the plant for incineration of municipal waste with capacity of 500,000 tons per year and production of 231 million kilowatt/hours of electricity in the combustion process. In this case, the Baku executive power is responsible for cleaning and delivery of waste.