Azerbaijani bank planning to significantly increase its authorized capital
Baku, Azerbaijan, Feb. 9
By Ali Gasimov – Trend:
Azerbaijan’s AGBank is increasing its authorized capital by seven million manats, the bank said in a message.
The bank will issue 3.5 million common shares with a nominal value of two manats each. AGBank has already applied to the Financial Market Supervisory Authority (FIMSA) in order to register the shares.
The bank’s authorized capital will reach 109.2 million manats after the emission. The message says that the bank plans to increase the authorized capital up to 125 million manats in 2018.
AGBank has been operating in Azerbaijan since 1992.