Azerbaijan Consider Possibility Purchase of Black Sea Trade and Development Bank Unallotted Shares
Azerbaijan, Baku / Trend corr. I.Khalilova / The issue concerning distribution of free 3% of shares of the capital of the Black Sea Trade and Development Bank, will be considered at the next meeting of the Council of managers of the bank, Mikhail Jabbarov, the deputy Minister for the Economic Development and who is the director of a bank in Azerbaijan. The share of the Azerbaijani Government may be increased to 5% from the current 2% in the Black Sea capital. The package will be implemented on the nominal.
Some 3% of authorized capital of the bank remains neutral as Armenia, Georgia and Moldova voluntarily decreased their shares by 50%.
The announced authorized capital of the bank made up SDR 1bln. Some 30% of them are already paid. The Azerbaijani share in the bank makes up 2% or SDR 6mln.
The Black Sea Trade and Development Bank is operating since 1 June 1999.