Baku, Azerbaijan, Feb.7
By Emin Aliyev - Trend:
The State Committee for Securities of Azerbaijan has registered the issue prospectus of ordinary registered book-entry shares of Gunaybank OJSC in the volume of slightly less than 10 million manat, Baku Stock Exchange (BSE) said on Feb.7.
Some 2,090 shares with par value of 4,783 manat each will be issued, according to BSE. Standard Capital LLC is the underwriter.
As a result of the placement of the issues, the bank's authorized capital will increase to 79.92 percent, from 13.024 million manat to 23.02 million manat. In turn, the Central Bank of Azerbaijan has ordered the banks operating in the country to increase their minimum level of capital to 50 million manat by the year end.
Gunaybank has operated in Azerbaijan's banking market since 1992.
The official exchange rate on Feb.7 is 0.7843 AZN/USD.
Translated by L.Z.
Edited by C.N.