Parabank Expands Statutory Capital
Azerbaijan, Baku / Trend / The Azerbaijani State Securities Committee has registered emission prospectus of ordinary registered stocks of the Parabank open joint-stock company, the Baku Stock Exchange reports.
The amount of emission makes up AZN 4.5mln, with nominal value AZN 200 per stock. In accordance with the prospectus of the emission, the floatation will be carried out through open subscription at the Baku Stock Exchange. AzerInterTrade LLC will act as an underwriter.
The expansion of the capital is carried out due to normative requirements of the National Bank of Azerbaijan for 1 July, 2007. In compliance with the requirements, the joint capital of the each functioning in Azerbaijan banks has to exceed AZN 10mln.