Azerbaijani Bank Avrasiya increases share capital by 10 per cent
Baku, Azerbaijan, Nov. 22
By Abbas Akhundov - Trend:
The Azerbaijani State Securities Committee registered an issue prospectus of Azerbaijani Bank Avrasiya's ordinary registered shares totalling 22 million manat, the committee said today.
According to the report, the sale was placed by converting 20,000 shares with a par value of 1000 manat each, into the same amount of shares with a par value of 1100 manat.
As a result of the placement, the bank's authorised capital increased by 10 per cent from 20 million manat to 22 million manat.
At present, this level does not correspond to the Central Bank of Azerbaijan's new requirement for the minimum total capital of 50 million manat.
Bank Avrasiya has been operating in Azerbaijan since November 2007.
The official exchange rate is 0.7843 AZN/USD on Nov. 22.