Azerbaijan, Baku, April 20 / Trend /
The State Securities Committee (SSC) has registered the issue prospectus of ordinary registered non-documentary shares of PashaBank OJSC in the amount of 178 million manat, the SSC's website said on Saturday.
Placement of the issue will be carried out through conversion of 10,000 shares with a nominal value of 17,800 manat each into the same amount of shares at par value of 15,700 manat. As a result, the share capital will increase by 13.4 percent - from 157 million manat to 178 million manat.
Pasha Bank was established in June 2007 and operates under a license of the Central Bank of Azerbaijan dated Jan.28, 2007. Its primary objectives are the strengthening of its leadership in corporate customer service, the qualitative growth of business in priority areas defined by the strategy and the creation and continued development of long term and trusted relationships.
The Bank, along with Pasha Insurance, PASHA Life, Pasha Travel and Pasha Construction, is included in Pasha Holdings, which is actually an investment company, but not a classic holding company. Kapital Bank is also included in the structure of the Pasha Group. The Holding owns 99.75 percent of shares in the bank.
Pasha Bank shareholders have: PASA Holding with 60 percent of the shares, the company ADOR Ltd with 30 percent and Arif Pashayev with 10 percent.
The official exchange rate on April 20 is 0.7847 AZN / USD.