Azer-Turk Bank increases authorized capital
Azerbaijan, Baku, Oct. 1 /Trend E.Aliyev/
Azerbaijani State Committee for Securities registered the issue prospectus of ordinary registered book-entry shares of Azer-Turk Bank OJSC, a report of Baku Stock Exchange (BSE) said on Tuesday.
According to the report, the issue volume is 1,204,410, quantity of shares - 1,204,410 with a par value of 1 manat each.
At the moment the bank's authorized capital is 12.24 million manats, and after placing the issue, the capital will be increased to nearly 13.44 million manats.
Chelsea Kapital LLC is the underwriter of shares.
Azer-Turk Bank was established May 25, 1995, by Turkish bank TC Ziraat Bank A.S. and Azerbaijani Agricultural and Industrial Bank (now non-banking credit organization Agrar Credit). Share holding of the Turkish capital in AzerTurk Bank may be increased in connection with the privatization of Agrar Credit. It owns 46 percent of the authorized shares. The remaining 4 percent belong to Azerbaijan Turan Bank. The Bank is a member-co-founder and shareholder of the National Processing Center MilliKart.