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BE&G Insurance Company raises share capital

BE&G Insurance Company raises share capital

09 February 2010 14:38 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Azerbaijan State Committee on Securities has registered BE&G Insurance Companyâ€™s issue prospectus of book-entry ordinary registered shares.
The face value per stock is AZN 5 000, the total number is 200 and the amount AZN 1 million.

The issue will be sold through public offering on Baku Stock Exchange.
Experts say the flotation is expected to start on February.
If successful, the companyâ€™s authorized capital will rise by 83.3% to AZN 2.2 million.

BE&G was established in 1998 under the name of Nakhchivan Insurance Company and renamed in 2001.
The insurer earned AZN 984 399 in premiums and paid AZN 518 169 for insurance claims during 2009.
As of January1, its authorized capital stood at AZN 1.2. The company provides 23 voluntary and 4 compulsory types of insurance services.

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