Azerbaijani Demir Bank ups authorized capital
Azerbaijan, Baku, Oct.6 / Trend, N. Ismayilova /
Azerbaijani Demir Bank increases authorized capital by one million manat, Azerbaijani State Securities Committee (SSC) said on Tuesday.
"The State Committee registered the bank's issue prospectus of ordinary book-entry registered shares on Tuesday. Within the issue five million shares at par value of 0.2 manat each were issued," the report said.
As of early September, DemirBank's authorized capital hit 20 million manat, while the total capital - 48.5 million manat
DemirBank (formerly Azerdemiryolbank) started its work in 1989. The shareholders of the bank include large international financial organizations like the European Bank for Reconstruction and Development and the Netherlands Development Finance Company (FMO).
The official exchange rate is 0.7870 manat to $1 on Oct.6.