Azerbaijani Bakı Sigorta insurance company puts up shares on free sale

Photo: Azerbaijani Bakı Sigorta insurance company puts up shares on free sale / Economy news

Baku, Azerbaijan, April 21

The public placement of the remaining unsold part of the shares of the Baki Sigorta insurance company will start at the Baku Stock Exchange on April 22.

The placement volume is 352,640 manat (464 shares).

The total volume of share issuance of the company makes up 1.85 million (2434 units with nominal 760 manat), 1.497.200 manat (1,970 shares) of which have already been placed. Due to the completion of the period of pre-emptive rights of the issuer, the remaining 464 shares offered for free sale through the stock exchange.

The placement will continue until April 24. Those who are interested in purchasing Baki Sigorta's shares can apply to companies that are members of the Baku Stock Exchange.

The company has started to the placement of its shares on April 10.

As of 2013, the paid-up authorized capital of Bakı Sigorta stood at the level of 6.52 million manat, which is at the same level as of 2012.

The total capital of the company amounted to 8.24 million manat at the end of last year, increasing by 3.9 percent, compared to 2012.

Controlling interest in Bakı Sigorta is owned by Bank Respublika JSC (51 percent). The company has been operating since August 28, 2007 and has a perpetual licence for the provision of 25 voluntary types of insurance services.

Official exchange rate on April 21 is 0,7843 AZN / USD.

Translated by S.I.
Edited by S.I.

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