Azerbaijani company «AXA MBASK» raises capital
Azerbaijan, Baku, Dec.26 / Trend J. Nasibova/
Placement of issue prospectus of "AXA MBASK" ordinary registered book entry shares with value of 2 001 680 AZN will start on December 26, 2012, Baku Stock Exchange reported on Wednesday.
"The company applied to Baku Stock Exchange (BSE) for inclusion of "AXA MBASK" shares to the non-quotation list of BSE," BSE reports.
The prospectus includes 5,240 shares at par value of 382 manat each.
Uni Capital is the underwriter of the transaction.
As a result of prospectus placement, the authorized capital of the company will be raised from 6.73 million to 8.73 million manat.
In October 2010, MBASK insurance company changed the principal shareholder.
The AXA Group (France) acquired the controlling parcel of shares (51 percent) through its affiliated company AXA Sequros Generales, S.A, De Sequros Y Reasequros (Spain). The license of MBASK was renewed for AXA MBASK in connection with changing the company's name on December 7, 2010.
AXA Group is the world leader in financial protection sphere. It operates in 57 countries around the world mainly in Europe, North America, Asia Pacific region and the Middle East.
The official exchange rate is 0,7848 AZN/USD on Dec. 26.