Azerbaijani insurer to double authorized capital
Baku, Azerbaijan, Nov. 5
By Abbas Akhundov- Trend: Azerbaijani State Committee for Securities registered the issue prospectus of ordinary registered book-entry shares of "Rəvan Sığorta" Insurance Company in the amount of 4.9 million manat, a message of the State Committee published on Tuesday said.
According to the message, about 120,099 shares were issued with a par value of 40.8 manat each.
Thus, the company's authorized capital will increase from the current 4 million manat to 8.9 million manat.
"Rəvan Sığorta" Insurance Company (previously "Star Alyans Sigorta" JSC) operates in the Azerbaijani market since 1998. It was sold to "Ifsen group" of "Nurgun Sirketler Qrupu" company in 2007. "Rəvan Sığorta" renders services on 19 types of voluntary insurance.
The official exchange rate on November 5 is 0.7843 AZN/USD.