Main shareholder of Azerbaijan’s AGBank increases his stake
Baku, Azerbaijan, May 2
By Azad Hasanli – Trend:
Chingiz Asadullayev, chairman of the Supervisory Board of Azerbaijan’s AGBank, increased his stake in the authorized capital of the bank from 31.68 percent to 33.57 percent, the bank’s website said.
Asadullayev’s stake increased due to the acquisition of stakes of two minority shareholders, according to the bank’s website. Thus, the total number of AGBank’s shareholders decreased to 83.
Asadullayev is the biggest shareholder of the bank.
Currently, the structure of AGBank’s shareholders is as follows: Chingiz Asadullayev (33.57 percent), International Finance Corporation (4.28 percent), Kazimir Partners Limited company (2.45 percent), Farzulla Yusufov (5.79 percent), Grigory Marchenko (8.3 percent) and 78 minority shareholders (with a total portfolio of shares of 45.61 percent).
AGBank has been operating in Azerbaijan since 1992.