Azerbaijani Expressbank increases authorised capital by almost 11 percent
Azerbaijan, Baku, Aug. 10 / Trend A.Hasanov /
The State Securities Committee (SSC) of Azerbaijan registered the issue prospectus of ordinary registered undocumented shares of ExpressBank totaling 8.6 million manat, the SSC said on Friday.
Prospectus includes 31,479 shares, at 273.2 manat each.
As a result of the placement of shares, the bank's capital will be increased from 78.8 million manat to 87.4 million manat.
Expressbank has operated from 1989 to 2010 as Azerneqliyyatbank. In 2008, in accordance with the decision of general meeting of shareholders and the new strategy, Azerneqliyyatbank has launched a new brand policy renaming the bank into Expressbank. At present there are 10 branches of the bank in the country, six of them are located in the regions.
The official exchange rate is 0.7854 AZN to $1 on Aug.10.