Azerigazbank Increases Authorized Capital Stock

Business Materials 28 February 2007 19:19 (UTC +04:00)

Azerbaijan, Baku /corr. Trend I.Khalilova / The State Committee for Securities registered prospect emission of Azerigazbank's simple nominal undocumented stocks. Volume of emission amounts to 1 000 000 manats, stock market of Baku reports. Nominal price of a stock is 2 manats. According to prospect emission, allocation will be realized with open subscription method in stock market of Baku. Azerigazbank will hold the underwriter role of stocks allocation.

The authorized capital of the bank will increase by 10 mln manats in the result of emission allocation. As per the September 8, 2006 agreement, at present International Financial Corporation owns 17,5% share holding of Azerigazbank.

94% of Azerigazbank's stockholders are natural persons.