...

Another Azerbaijani bank increases capital by over 4 times

Business Materials 21 January 2015 17:03 (UTC +04:00)
The State Securities Committee (SSC) of Azerbaijan has registered the issue prospectus of registered shares of Azerbaijan Kredit Banki amounting to 38.752 million AZN
Another Azerbaijani bank increases capital by over 4 times

Baku, Azerbaijan, Jan.21

By Maksim Tsurkov - Trend:

The State Securities Committee (SSC) of Azerbaijan has registered the issue prospectus of registered shares of Azerbaijan Kredit Banki amounting to 38.752 million AZN, said the Baku Stock Exchange (BSE) Jan.21.

The official exchange rate for January 21 is 0.7844 AZN / USD.

The report said that 173,000 shares with par value of 224 AZN will be issued within the framework of the emission.

Underwriter of the placement is Texnika Kapital Menecment Ltd.

The authorized capital of the bank is 11.5 million AZN. After the placement of emission, the bank's capital will be increased to 50.25 million AZN, which meets the minimum requirement to the total capital of banks of the Central Bank of Azerbaijan as of January 1, 2015.

Previously, Eurobank JSC announced about the increase of its share capital by more than 4 times, also bringing it to the required 50 million AZN.

Azerbaijan Kredit Banki JSC operates in Azerbaijan since December 2005. The shareholders of the bank are private individuals. Shirhan Abbasov is the largest shareholder of the bank, and he owns 36.64 percent of shares. The other shareholders are Nazim Abbasov (35.56 percent) and Jamilya Abbasova (27.8 percent).

Edited by CN

Follow the author on Twitter: @MaksimTsurkov

Tags:
Latest

Latest