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State share in IBA's statutory capital fully repaid

Business Materials 4 April 2006 15:49

From 10 April the International Transaction Systems sets to placement of the shares of the International Bank of Azerbaijan (IBA). The placement will be carried out through exchange trade system within 6 months, the Baku Stock Exchange (BSE) told Trend.

The total amount of emission comprises 20m manats with nominal value per share 0.2 manat. The state share (50.2%) has been repaid from this emission. The government allotted 10,040m manats from the public budget. The rest shares at 9,960m manats will be sold among other share-holders of IBA - nongovernmental physical and legal entities. The same time they will be able to buy shares in compliance with their share in the statutory capital of IBA. The International Transaction Systems was invited just to place shares among the rest share-holders of the bank.

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