Azerbaijan, Baku / Trend corr. I.Khalilova / It was decided to privatize the Azerbaijan's Kapital Bank. Some 50% of the state share of the bank was privatized in 2007. The rest 50% will be sold by order of the Azerbaijani President from 19 October. Some 1.2mln shares in nominal value of AZN 10 may be allocated to labour, natural and juridical persons. Only 5% may be sold to labour collectives, 10% to natural persons and 85% - juridical persons.
One juridical person has no right to submit an application which exceeds 360,000 of shares. Sale of shares to juridical persons will be conducted on certain basis, but natural persons on bill for Banks.
Samir Sharifov, the deputy Minister of Finance, said privatization of 50% shares of Kapital Bank would invest AZN 12mln in the Azerbaijan state budget.
AtaHolding -20%, Xalg Bank -20% and Azersun Holding -20% became new shareholders of the state bank.