Azerbaijan, Baku, Dec. 29 / Trend /
The State Securities Committee (SSC) has registered the issue prospectus of ordinary registered book-entry shares of AtaBank with a total volume of 25 million manat, the Baku Stock Exchange reported on Saturday.
The prospectus includes 1,250,000 shares at par value of 20 manat
The underwriter of the issue prospectus placement is LLC Bokdil-AZ.
As a result of prospectus placement, the authorized capital of the bank will increase up to 50,000,000 manat.
Azerbaijani Central Bank's decision dated July 25 increased the minimum total capital of existing banks from the current 10 million manat to 50 million manat. The new requirement for bank capitalization comes into force from January 2014.
AtaBank OJSC was established in 1993 and has become one of the major commercial companies in Azerbaijan. Today AtaBank is considered as a full-service hi-tech bank. It has 24 branches in Baku and other regions of the republic. The Bank offers a complete package of services for companies and individuals.
By the end of 3rd quarter of 2012, the Bank's net assets were 256,146,800 manat, with deposit portfolio of 215,416,700 manat, and loan portfolio of 186,544,700 manat.
In November, Fitch Ratings assigned Azerbaijan-based AtaBank a Long-term Issuer Default Rating (IDR) of 'B-' with a Stable Outlook, Short-term foreign-currency IDR of 'B', Support rating of '5'. Along with that 'No Floor' was assigned asSupport Rating Floor.
The official exchange rate for December 29 is 0,7850 AZN / USD.