Azerbaijan, Baku, April 2 / Trend /
Azerbaijani AGBank registered the emission of 12,000 undocumented ordinary interest bonds with a total amount of 12 million manat at the State Securities Committee of Azerbaijan (SSC), the announcement of the State Committee published on its website on Tuesday says.
Allocation of the bonds with a par value of $1000 each will be conducted by poll.
By the end of 2012, the authorised capital of the bank constituted 25 million AZN and aggregate capital, 42.56 million AZN. A new requirement of the Central Bank of Azerbaijan which comes into force on 1 Janury 2014 is for aggregate bank capital to be at least 50 million manat. The bank's shareholders are expected to consider the issue of increasing the authorised capital of AGBank at their general meeting to be held on April 19.
AG Bank was founded in 1992. The bank's shareholders are the International Finance Corporation - 17.5 per cent, the Kazimir Partners company - 10 per cent, 69 minority shareholders with a 31.81 per cent total share in the bank's capital and two individuals owning the remaining 40.69 per cent of the capital.