Azerbaijan, Baku, Oct.10 / Trend /
United Credit Bank" applied to CJSC "Baku Stock Exchange" (BSE) for inclusion of its ordinary registered book-entry shares to the non-quotation list of BSE.
The start of the OJSC " United Credit Bank" s shares placement is planned to be held beginning from November 01, 2011, State Securities Committee said on Monday. Underwriter of placement is Chelsea Capital.
Within the issue 1,000 shares with par value of 2,000 manat each were issued.
In 2010, the bank's authorized capital hit 12.11 million manat. After the placemen, the capital will be increased to 16.5 percent.
United Credit Bank was established in 1996 and has six branches throughout the country.
The official exchange rate is 0.7869 manat to $1 on Oct.10.