Azerbaijani insurance company increases authorized capital

Photo: Azerbaijani insurance company increases authorized capital / Economy news

Baku, Azerbaijan, April 24
By Emin Aliyev - Trend:

The Azerbaijani State Securities Committee registered the issue prospectus of ordinary registered non-documentary shares of JSC "Beynəlxalq sığorta şirkəti" insurance company in the amount of six million manats.

Some 600 shares with the nominal of 10,000 manats each have been issued.

The underwriter of the deal is "International Transaction System" LLC
As a result of placement of the company's share capital will be increased from 8.8 million manats to 14.8 million manats, which is almost three times higher than the minimum requirement of the Azerbaijani Finance Ministry.

Finance Ministry upheld requirements for minimum amount of aggregate capital of insurers at the level of five million manats for the companies operating on non-life type.

JSC "Beynəlxalq sığorta şirkəti" created in Azerbaijan in 2002.

The official exchange rate on April 24 is 0.7843 AZN / USD.

Translated by S.I.
Edited by C.N.

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