Azerbaijan, Baku, Dec. 14 /Trend's A. Akhundov /
Starting December 14, ordinary registered shares of Gencebank in the amount of 35 million manats will be placed on Baku Stock Exchange (BSE), a recent BSE report said.
The emission prospect includes 1.75 million shares with an average value of 20 manats each. The underwriter of the transaction is Uni Capital OJSC.
As a result of emissions placement, the authorized capital of the bank will be increased from the current 15 million manats to 50 million manats.
According to the CBA board's decision dated July 25, the minimum total capital of existing banks and authorized capital of newly established banks increased from the current 10 million manats ($12.7 million) to 50 million manats ($63.7 million). The new requirement for the capitalization of existing banks will come into force on January 1, 2014.
The official exchange rate on December 14 is 0.7849 AZN / USD.