Buta Sıgorta increases authorized capital

Buta Sıgorta increases authorized capital
# 29 August 2012 12:02 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. Insurance company Buta Sigorta, created this summer on the basis of Thames Insurance Company, is holding the first-in-its-new history increase in the authorized capital.

The State Securities Committee (SSC) of Azerbaijan reported of state registration of the prospectus of the new issue of Buta Sigorta shares under number AZ1001005292. The insurance company was authorized to issue 75,000 shares with par value of AZN 20 each.

Full placement of the issue (AZN 1.5 million) will increase its equity capital from AZN 5.1 million up to AZN 6.6 million. The Company’s shareholders are Bank of Baku, Baku Electronics, Baku Service Company, Auto Azerbaijan and Qafqaz Lizinq, which own by 19% of stakes, and NAB Holding with a 5% stake.






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THE OPERATION IS BEING PERFORMED