Azer-Turk bank increases capital by over threefold
Baku, Azerbaijan, Oct.18
By Azad Hasanli - Trend:
The State Committee for Securities of Azerbaijan registered the issue prospectus of ordinary registered book-entry shares of Azer-Turk Bank OJSC totalling 36.55 million AZN, the Baku Stock Exchange said.
The official exchange rate is 0.7843 AZN/USD on Oct. 18.
Some 36.55 million shares with par value of 1 AZN were issued within the framework of emission. The underwriter of the placement of shares is Invest-Az LLC.
As a result of the placement of shares, the bank's authorized capital will increase threefold - up to 50 million AZN.
The authorized capital of the bank, as of September 1, 2014, amounted to 13.44 million AZN, total capital - 16.94 million AZN, and assets - 104.35 million AZN.
Azer-Turk Bank was established May 25, 1995.
Shareholders of AzerTurk Bank are the Agrarcredit non-bank credit organization owning 46 percent of the authorised shares, Turkish T.C.Ziraat Bankası (46 percent), Ziraat Bank Intenational AG (4 percent) and Turanbank (4 percent).