Azerbaijani bank talks IPO plans (UPDATE)
Details added (first version posted on 13:38)
Baku, Azerbaijan, Feb. 2
By Anvar Mammadov – Trend:
Holding an initial public offering (IPO) is a strategic task for Azerbaijan’s Unibank JSC, Chairman of the bank’s Management Board Faig Huseynov told reporters in Baku Feb. 2.
“Of course, we are thinking about an IPO. I will not say that this issue will be resolved in short term, but this is our strategic task. In order to conduct an IPO, the bank’s indicators must for some time remain at a stable high level for becoming attractive to investors,” said Huseynov.
The chairman added that IPO can be conducted both on the domestic and foreign markets.
Unibank has been operating in Azerbaijan since 2002 and is one of the country’s big financial organizations.
As of late 2017, the bank’s authorized capital amounted to 125.686 million manats, while the aggregate capital totaled 67.488 million manats.
(1 USD = 1.7001 manats on Feb. 2)