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Azerbaijani insurance company Pasha Heyat Sigorta increases share capital by 67 percent

Business Materials 8 May 2013 20:47 (UTC +04:00)
The State Securities Committee (SSC) has registered the issue prospectus of ordinary registered shares of the life insurance company Pasha Heyat Sigorta with the nominal value of shares increased by 67.44 percent, according to the Committee’s report published on its website.
Azerbaijani insurance company Pasha Heyat Sigorta increases share capital by 67 percent

Azerbaijan, Baku, May 8 / Trend A.Akhundov /

The State Securities Committee (SSC) has registered the issue prospectus of ordinary registered shares of the life insurance company Pasha Heyat Sigorta with the nominal value of shares increased by 67.44 percent, according to the Committee's report published on its website.

Placement of the issue will be carried out through the conversion of 7,000 shares with par value of 3,600 manat to the same number of shares at par value of 2,150 manat.

As a result, the bank's share capital will be increased from 15.05 million manat to 25.2 million manat manat.

Pasha Heyat Sigorta is the most capitalized company among life-companies in the country (Ateshgah Heyat and Gala Heyat). It entered the market in February 2011 with the capital of seven million manat. The sole shareholder and the holder of the new company's shares is Pasha Holding.

The official exchange rate on 8 May is 0.7845 AZN / USD.

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