Shares of two Turkmen banks put up for auction

Finance Materials 15 February 2021 17:07 (UTC +04:00)

BAKU, Azerbaijan, February 15

By Jeila Aliyeva - Trend:

Shares of the Turkmenistan's Halkbank Joint-Stock Commercial Bank and Senagat Joint-Stock Commercial Bank banks are put up for auction, Trend reports with reference to the Business Turkmenistan information portal.

The shares are listed on Ashgabat Stock Exchange closed joint-stock company.

As reported, Turkmenistan’s Rysgal Joint Stock Commercial Bank plans to attract large foreign investments. Also, the bank has decided to increase its authorized capital to 200 million Turkmen manat (over $57 million) this year.

After the approval of the authorized capital of the bank is completed, the shares will first be offered to the bank's shareholders. At the same time, the unallocated shares will be put up for public auction by the Ashgabat Stock Exchange.

According to the report, in 2020, to increase the authorized capital of Rysgal Bank to 60 million manat ($17.1 million). The fifth issue of more than 13,000 ordinary shares, worth 1,500 manat each ($428.13), was announced.

The share of the issued shares was distributed among the current shareholders of the bank, and the remaining part was put up for auction by the Ashgabat Stock Exchange.

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