Azerbaijan, Baku, Aug. 3 / Trend A.Akhundov /
The State Securities Committee (SSC) has registered the issue prospectus of ordinary registered non-documentary shares of Günay Bank OJSC for a total of 9.996 million manat, the Baku Stock Exchange (BSE) reported.
According to the report, the issue includes 2,090 shares at par value of 4783 manat.
As a result of placement, the bank's authorized capital will increase from current 23 million manat to 33 million manat.
The underwriter of the placement is Standart Kapital LLC.
As Günay Bank reported earlier, the bank plans to register another issue prospectus by the end of 2013, thus, bringing the authorized capital to 50 million manat.
According to the decision of the Central Bank of Azerbaijan dated July 25 last year, the requirement for the minimum total capital of existing banks and authorized capital of newly established banks has increased from current 10 million manat to 50 million manat. The new regulation for the minimum total capital of existing banks will come into force in January 2014.
Günay Bank has been operating in the banking market since 1992.
The official exchange rate on 3 August 0.7845 AZN / USD.