Azerbaijan’s NBC Bank starting share placement
Baku, Azerbaijan, Dec. 22
By Azad Hasanli - Trend:
The placement of the Azerbaijani NBC Bank's ordinary registered book-entry shares at the Baku Stock Exchange (BSE) is planned to start Dec. 24.
The BSE said in a message that some 20,535 shares, at a par value of 243.60 AZN each, were issued as part of the emission.
The placement's underwriter is the Tekhnica Capital Management LLC.
Following the emission's placement, the bank's authorized capital will be increased from 46.536 million AZN up to 51.54 million AZN.
Under the requirement of Azerbaijan's Central Bank, the minimum aggregate capital of banks in Azerbaijan should stand at 50 million AZN as of Jan. 1, 2015.
NBC Bank was established in December 1992.
The official exchange rate as of Dec. 22 is 0.7844 AZN/USD.
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