Azerigasbank joint-stock investment bank and the Asian Development Bank (ADB) are doing the final coordination of the agreement on purchase of a participation share in Azerbaijani bank.
The chairman of the Managing Board of the bank, Azer Movsumov, in July it is planned to sign a trilateral agreement between Azerigasbank, ADB and the International Corporation (IFC) are purchasing equal stake in Azerigasbank 17.5% each.
A bilateral agreement between the bank and the IFC has been signed and the deal summed up $2.3m. The cost of the packet with the Asian Development Bank will be clarified at the moment of signing depending of the exchange rates, while in national currency it comprises 1,995m AZN.
The transmission of 35% of shares to foreign shareholders will be done at the expense of additional issue, after the payment of which the statutory capital will be increased to 12m AZN. At present it is formed on the level of 7.2m AZN, while statutory capital will comprise 10m AZN.
According to Movsumov, upon conclusion of a deal with the ADB it is planned to consider the opportunities for opening of a credit line for development of small and medium-scale business and leasing.