Bank Of Baku

Wembley Developments (Azerbaijan) increases authorized capital

Wembley Developments (Azerbaijan) increases authorized capital
# 23 August 2012 11:43 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. Construction company Wembley Developments (Azerbaijan) has carried out conversion of capital in national currency.

The State Committee for Securities of Azerbaijan reports that an issue of Company’s shares was registered under number AZ1001000135 - 5,047,929 shares with par value of AZN 0.98 each.

The shares under numbers 1010013K (2.8 million shares with par value of $1) and 1020013K (2,247,929 shares with par value of $1) were converted in the new issue. As a result, WD capital rose from AZN 5,047,929 up to 4,946,970.42 manats that in accord the official exchange rate (AZN 0.7854 to the S dollar) was estimated at $6,298,663. Thus, WD increased its share capital by 24.8%.
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THE OPERATION IS BEING PERFORMED