Azerbaijani AG Bank increases capital by quarter
Azerbaijan, Baku, July 6 / Trend A. Hasanov /
The Azerbaijani State Securities Committee registered the issue prospectus of ordinary registered book-entry shares of AG Bank totaling 5 million manat, the Baku Stock Exchange (BSE) said on Friday.
The issue prospectus includes 2.5 million shares, at 2 manat par value. Underwriter is Caspian Financial.
Currently, the bank's authorised capital is 20 million manat, and after placing the new issue it will be brought up to 25 million manat.
AG Bank was founded in 1992. The bank's shareholders are the International Finance Corporation - 17.5 percent, the Kazimir Partners company - 10 percent. The number of minority shareholders is 69, and their total share in the bank's capital is 31.81 percent, and two individuals own 40.69 percent of the equity.
The official exchange rate is 0.7856 AZN to $1 on July 6.