Azerbaijani bank increases capital by 4 times
Azerbaijan, Baku, Dec. 12 / Trend A.Akhundov /
Azerbaijani State Committee for Securities (SCS) has registered the emission prospect of ordinary paperless shares of the Azerbaijani Qafqaz İnkishaf Bankı totaling $ 40 million manats. This was stated in the committee report, published on Wednesday.
The prospect includes 40 million shares at par value of one manat.
The bank's authorized capital currently stands at 14 million manats. Following the placement of the new emission, it will be raised to 54 million manats, which exceeds the new requirement of the Azerbaijani Central Bank to the minimum total capital in the amount of 50 million manats which will come into effect on January 1, 2014.
The aggregate capital currently stands at 15.12 million manats.
Qafqaz İnkishaf Bankı was established on April 23, 1996.
The official exchange rate on December 12 is 0,7849 AZN / USD.