Azerbaijani insurance company A-Qroup increases capital by over a third

Photo: Azerbaijani insurance company A-Qroup increases capital by over a third / Business News

Baku, Azerbaijan, April 21

Trend:

Azerbaijani insurance company 'A-Qroup Sıgorta Shirketi', specializing in the voluntary health insurance, increases the nominal value of its share by 35.3 percent, as a result of which the company's authorized capital will stand at 7,308 million manats.

Azerbaijani State Committee for Securities registered 7,750 ordinary undocumented nominal shares of the A-Qroup at par value of 943 manats, according to a statement from the committee.

The shares will be placed by means of conversion into the same number of shares at par value of 696.8 manats.

A-Qroup was established in 1995 and renders services on 14 types of voluntary insurance.

A-Qroup is the only insurance company selected by the International Finance Corporation (IFC) as part of the second stage of a pilot program on improving the corporate governance.

The official exchange rate on April 21 is 0.7843 AZN / USD.

Translated by E.A.
Edited by S.I.

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