Azerbaijani MuganBank resumes capitalisation process
Azerbaijan, Baku, March 14 / Trend /
Placement of Muganbank's shares is held in the volume of three million manat starting March 15, the Baku Stock Exchange (BSE) informed on Thursday.
'The bank applied to the CJSC Baku Stock Exchange (BSE) for inclusion of its ordinary registered book entry shares to the non-quotation list of BSE', the statement said.
The quantity of shares within the issue is 15 million at a par value of 200 manat. Texnika Kapital Menecment LLC acts as underwriter of the placement.
As a result of the placement, the bank's authorised capital will exceed 40 million manat. Last year, the authorised capital of the bank amounted to 37.306 million manat with a total capital of 45.07 million manat. Previous placement of a share issue was held by the bank in November last year.
MuganBank has been operating since 1992. To date, there are 30 bank branches and two offices around the country.
The official exchange rate on March 14 is 0.7848 AZN / USD.