Azerbaijani PASHA Bank increases capital over 10 percent
Azerbaijan, Baku, Feb.28 /Trend A.Akhundov/
The State Securities Committee (SSC) of Azerbaijan registered the issue of a prospectus of ordinary registered shares of the PASHA Bank, SSC said on Tuesday.
The placement will be conducted by converting the nominal value of 10,000 shares with a par value of 12,347.47 manat in the same amount of shares with par value of 13,686.94 manat. This means the bank's authorised capital will increase from 123.47 million manat to 136.87 million manat.
PASHA Bank was established in June 2007 and operates under licence of the Central Bank of Azerbaijan dated Jan.28, 2007.
The Bank, along with Pasha Insurance, PASHA Life, Pasha Travel and Pasha Construction, is included in the Pasha Holding Company which is actually an investment company, but not a classic holding company. Kapital Bank is also included in the structure of the Pasha Group. The Holding owns 99.75 per cent of the shares in the bank.
Pasha Bank shareholders are: PASA Holding with 60 per cent, ADOR Ltd with 30 per cent and Arif Pashayev with 10 per cent.
Official exchange rate on Feb.28 is 0.7682 AZN/USD