Azerbaijan, Baku, 13 April / Trend A.Akhundov /
Placement of Amrah Sigorta's ordinary registered documentary shares for the total amount of 262,000 manat on the Baku Stock Exchange (BSE) starts on April 15, according to BSE's statement. The par value of 1,310 shares within the issue is 200 manat.
"The insurance company applied to Baku Stock Exchange for the inclusion of its shares to the non-quotation list of BSE," according to the statement.
Unicapital LLC acts as the underwriter of the issue placement.
Thus, Amrah Sigorta raises its capital from its current level of 4,738 million manat to the minimum requirement of five million manat set by the Ministry of Finance.
The Amrah Sigorta Company was founded by two individuals in 1993.
According to the schedule of capitalization, starting January 2013, the minimum capital of insurance companies in Azerbaijan should not be less than five million manat, and of reinsurance companies - not less than 10 million manat.
The official exchange rate on April 13 is 0.7845 AZN / USD.