Azerbaijani Kapital Bank almost doubles its authorized capital

Baku, Azerbaijan, Feb. 4

By Abbas Akhundov - Trend:

Azerbaijani State Securities Committee (SSC) has registered the issue prospectus of Kapital Bank's ordinary registered documentary shares worth 70 million manats, according to the committee.

Seven million shares with a nominal of ten manats each will be issued as part of the emission.

As a result of the emission the bank's authorized capital will reach 150 million manats, which is three times more than the Azerbaijani Central Bank's new requirement to the minimum total capital of banks as of late 2014.

Kapital Bank was fully state-owned by the summer of 2008.

Currently, the Kapital Bank's main shareholder is Pasha Holding, which owns 97.75 percent shares.

The official exchange rate on Feb. 4 is 0.7843 AZN/USD.

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