Azerbaijan, Baku / Trend corr. I.Khalilova /The State Committee on the securities, registered the prospect of the issuing of the simple nominal paperless shares of Amrahbank company totalling AZN 2.5mln, the Baku Exchange Fund reported. The nominal cost of share is AZN 100.
Under the decision made by the shareholders of the bank, the issue will be placedon18 June 2008. The AzerInterTrade Ltd is the underwriter in placing the shares.
The capitalization of the bank may be connected with its plan, to get included into the shareholders of the Bahrain-based International Investment Bank, which announced to invest in the Amrahbank. However, no appeal has been submitted by Amrahbank to the National Bank of Azerbaijan (NBA) so far, stated Adishirin Gasimov, the director of the Department on Supervision in the operations of the credit organizations of NBA. No agreement may be achieved without NBA's permission. Taking this into consideration, Amrahbank has time to receive permission. In compliance with bank legislation, the bank would agree with NBA when the bank will plan to sell its 10% shares. In its turn, NBA pays its utmost attention on the reputation of the investor.
A deal of Amrahbank with the Bahrain bank envisages sale of 49% of shares in Azerbaijani bank. The International Investment Bank intends to make the bank an Islamic bank, which will render the financial products and services.