Azerbaijani insurance company increases shares
The State Securities Committee (SSC) has registered the emission prospectus of ordinary nominal uncertified shares of the insurance company's "A-Qroup". Its allocation is going to increase the authorized capital of the company by 14.4 percent, a report of the SSC published on its website says.
The emission allocation will be conducted by the conversion of 7750 stocks with 609- AZN to the same volume of 696.8 -AZN stocks.
Thus, the company's authorized capital will increase from 4.72 million to 5.4 million AZN.
"A-Qroup" IC was established in 1995 and provides services on 14 types of voluntary insurance. "A-Qroup" is the only insurance company in Azerbaijan selected by the International Finance Corporation (IFC) in the second phase of the pilot program for improving corporate governance. Early this year, the UK once again confirmed the company's compliance with international quality standard ISO 9001.
The official exchange rate on March 29 is 0.7848 AZN / USD.