Azerbaijan, Baku, 13 March / Trend corr I. Khalilova/ The mission of the European Bank for Reconstruction and Development (EBRD) will pay a visit to Baku at the end of April in order to consider purchasing a share in the capital of the Millikart LLC, Jalal Orujev, the Executive Director of the Millikart processing centre, said on 13 March.
After their visit, EBRD will make a final decision to purchase the stocks and on their cost. The Bank plans to purchase stocks varying between 10-19%.
According to Orujev, EBRD will join the shareholding of Millikart through an additional issue, though previously it had been planned to sell 9% of the ParaBank's share in Millikart. During the establishment of Millikart on 14 July 2006 ParaBank had 10% shares in the capital of the processing centre. Later ParaBank decided to sell 9% and to leave only 1%. However, now the bank has cancelled its plans and has retained the full 10%. As a result, EBRD can now join the capital only through additional issue.
For the time being, the minimal share of a bank in the capital of Millikart (AZN 4mln) is 1% and the maximum is 10%. The processing centre units 18 shareholders.
The founders of the processing centre are Atabank, Azerdemiryolbank, Azerturkbank, Bank of Baku, CIBank, Debutbank, Amrahbank, Khalgbank, Kredobank, the Azerbaijan Micro Finance Bank, ParaBank, Rabitaban, Bank Respublika, Bank Standard, Texnikabank, Turkbank, Turanbank, UniBank and Zaminbank.