Azerbaijani Alfa Sigorta commences shares placement
Azerbaijan, Baku, Feb 7 / Trend A. Akhundov /
Azerbaijani Insurance Company OJSC Alfa Sığorta has launched placing the prospectus of ordinary registered book-entry shares in the amount of2 million manat, Baku Stock Exchange (BSE) reported on Tuesday. The placement will begin from Feb. 9.
Two thousand shares with a nominal value of 1,000 manat per share are produced within the frames of emission. The underwriter of the IPO is LLC Texnika Capital Management.
As a result of the placement, the authorized capital will increase from the current 4.75 to 6.75 million manat.
The founder of Alfa Sığorta is the local OJSC Texnikabank, which bought 100 percent of company's shares in December 2006. Alfa Sığorta is licensed to provide 30 kinds of insurance services, including the six compulsory and 24 voluntary types of insurance.
The official exchange rate on February 7 is 0.7863 AZN / USD.