Baku. Nijat Mustafayev – APA-Economics. Azerbaijan State Committee for Securities has registered Gunay Anadolu Insurance Company’s issue prospectus of ordinary registered ordinary book-entry stocks.
The volume of the issue is AZN 806 000 and face value per stock AZN 1 000. According to the issue prospectus, placement will be held by public subscription at the Baku Stock Exchange.
Experts say placement is likely to start in September.
If floated successfully, the insurance company’s share capital will double to AZN 1.612 million.
Gunay Anadolu Azeri-Turkish Joint Venture has been in operation since 1992.
As of July 1, the company’s authorize capital stood at AZN 806,502.
The insurer provides 2 compulsory and 18 voluntary types of insurance services.
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