Azerbaijani AFB Bank increases face value of shares
Azerbaijan, Baku, Aug.22 / Trend N. Ismayilova /
The Azerbaijani State Securities Committee has registered the prospectus of an emission of ordinary registered shares of JSC "AFB Bank", SSC said on Monday.
Emission placement will be conducted by converting 38,182 shares, with face value of 1,062 manat, in the same amount of shares with the face value of 1,074 manat.
Thus, the bank's authorized capital will increase from 40.55 million manat to 41.01 million manat.
The Central Bank of Azerbaijan issued a license to AFB Bank to conduct banking activities in December 2008. Officially, operations began in February 2009. The two physical entity shareholders are LLC "Gilan" with 99.2 percent and the second, unnamed, with 0.8 percent.
The official exchange rate is 0.7863 manat to $1 on Aug. 22.