Azerbaijani insurance company doubles its authorized capital
Azerbaijan, Baku, Jan.06 / Trend /
Azerbaijani State Securities Committee has registered issuance of Ata Sigorta's ordinary non-book-entry shares, Baku Stock Exchange said today.
According to the issue, the placement will take place in public subscription on the Baku Stock Exchange.
The amount of the issuance is 2 million manat. The number of registered shares is 100,000 with a nominal value of 20 manat per share.
Underwriter of the placement is LLC Brokdil-Az.
AtaSigorta launched insurance operations in September 2004. The paid authorized capital of the company, which belongs to the group of companies AtaHolding, will increase by 2 million manta as a result of the placement. In January to November, the amount of the company's premiums totalled 2.68 million manat, payments 0.6 million manat.
On Jan. 6, the official exchange rate is 0.8030 manat to $1.