Azerbaijan, Baku, March 19 / Trend A. Akhundov /
The State Committee for Securities (SCS) of Azerbaijan has registered the prospectus of the emission of ordinary nominal uncertified shares of the Günay Sığorta insurance company with a total price of 2.2 million AZN according to an announcement of the State Committee for Securities published on its website.
An issue of 2200 shares at a nominal value of 1000 manat each was issued within the scope of the emission.
This means the authorised capital stock of the company will be increased from 4.2 million to 6.4 million AZN.
According to the approved schedule of capitalisation since January 1, 2013, the minimum capital of insurance companies in Azerbaijan should be at least five million manat and that of reinsurance companies 10 million AZN.
The sole stockholder of Günay Sığorta, operating since 1992, is the Azerbaijani joint-stock Günay Bank.
The official exchange rate on March 19 is 0.7848 AZN / USD.