Azerbaijani Rabitabank increases capital by third
Azerbaijan, Baku, Jan. 26 /Trend A.Akhundov/
Placement of ordinary registered shares of Azerbaijani Rabitabank to the tune of $ 10 million manat will start on February 8, a report of the bank board said on Saturday.
Some 492,854 shares with nominal value of 20.29 manat were issued under the emission.
"Çelsi Kapital" is the underwriter of the placement.
Placement of emission prospectus will result in increase of the bank's authorized capital from 30 million to 40 million manat.
Rabitabank is a commercial bank that has operated since 1993 in Azerbaijan. In September 2010
Rabitabank signed an investment agreement with the International Finance Corporation (IFC) and European Bank for Reconstruction and Development (EBRD) in connection with their entry into the shareholding structure of the Azerbaijani bank.
Official exchange rate is 0,7847 AZN/USD on January 26.