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Baku Insurance to double capital

27 August 2008 15:40 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. The State Committee for Securities registered the issue prospectus of the ordinary registered stocks of OJSC â€œBakiSighortaâ€. The volume of the issue is AZN 700 000, the face value per stock AZN 200.
According to the issue prospectus, placement will be held by means of the initial public offering on Baku Stock Exchange. â€œRespublika Investâ€ will be the underwriter of stocks placement. As provided in the issue prospectus of the stocks, the shareholders of the Issuer have the right of priority during 1 months to acquire the stocks to be placed in proportion to their equity positions in the authorized capital.
Those intending to purchase the stocks can apply to an organization being the member of CJSC â€œBaku Stock Exchangeâ€ and having a brokerage license.
Tural Insurance was established in 1994 by 10 local individuals and was renamed Baku Insurance after Bank Respublika acquitted a controlling stake.