Share capital of Uzbek bank up three times

Business Materials 20 December 2017 11:17 (UTC +04:00)

Baku, Azerbaijan, Dec. 20

By Mamed Dashdamirov – Trend:

Uzbekistan’s Private Joint Stock Exchange Bank “Trustbank” sold 60 million new-issue common shares with a total face value of 60 billion soums ($1 = 8101.62 soums).

They were sold at a price of 32.4 percent above face value, and their real total value was 79.456 billion soums.

This allowed increasing the bank’s share capital by 2.97 times and increasing its volume up to 119.7 billion soums, by placing 100.227 million common and 23,000 preferred shares with a nominal value of 1,000 soums per share.

At an extraordinary meeting of Trustbank shareholders, held in late November 2017, it was decided to pay interim dividends on common shares at the rate of 2,000 soums per share (200 percent of the nominal value).

In 2016, dividends were paid only on preferred shares – 150 soums per share (15 percent), in 2015 – on simple and privileged in a similar amount.

Trustbank was founded in 1994.