Legion Financial OJSC has successfully carried out its latest bond issue under the organization of Assist Finance Investment Company OJSC. According to the Issue Prospectus, the total volume of the bond is 1 million manats, with 1,000 bonds issued at a nominal price of 1,000 manats each. These bonds, with a maturity of 1,800 days (5 years), offer a high annual yield of 15%, with interest payments made every 30 days.
The underwriter for this bond issue is Assist Finance Investment Company OJSC, a licensed professional investment company that provides essential and auxiliary investment services in the securities market.
On August 14, 2024, an auction was held at the Baku Stock Exchange for the placement of shares of Legion Financial OJSC. The auction was successful, with shares purchased by three investors, resulting in an increase in the company's authorized capital from 2,340,000 to 3,135,000 manats.
It is noteworthy that purchasing bonds from Legion Financial OJSC is advantageous not only due to the attractive interest rate but also due to the exemption from income tax on securities investments through the BSE for a period of 5 years, starting from February 1, 2023.
Assist Finance's role as underwriter contributed significantly to the successful completion of this bond issue. The company, licensed by the Financial Markets Control Chamber of the Republic of Azerbaijan since October 12, 2018 (License No. İŞ-03), efficiently managed the subscription process and facilitated the securities placement through the BSE's trading system.
Legion Financial OJSC, established in 2020, specializes in the financial leasing of passenger cars. The company has shown impressive growth since its inception, with assets increasing from 417,000 manats in 2021 to 8.35 million manats in the first half of 2024. The company's leasing portfolio has expanded from 408,000 manats to 6.98 million manats over the same period.
Financially, Legion Financial OJSC has consistently recorded net profits, reporting 17,000 manats in 2021, 283,000 manats in 2022, 616,000 manats in 2023, and 479,500 manats in the first half of 2024.
The company remains active in the bond market, regularly issuing securities. Currently, Legion Financial OJSC has two outstanding bond issues, each valued at 500,000 manats.