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Azerdemiryolbank raises authorized capital

25 September 2008 13:35 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Azerbaijan State Committee for Securities has registered Azerdemiryolbankâ€™s issue prospectus of ordinary preferred stocks.
The volume of the issue is AZN 62 000 and face value per stock AZN 0.2 According to the issue prospectus, placement will be held through public subscription at the Baku Stock Exchange.
Experts believe placement will start in October.
If successfully sold, the bankâ€™s share capital will increase by 0.46% to AZN 13.462 million.
As at September 1, Azerdemiryolbankâ€™s assets stood at AZN 208.47 million, loan portfolio at AZN 172.27 million, deposit portfolio at AZN 51.59 million, total capital at AZN 34.13 million and authorized capital stood at AZN 13.4 million.
Azerdemiryolbank has been in operation since 1989.
Its shareholders include the European Bank for Reconstruction and Development (EBRD) and the Netherlands Development Finance Company (FMO).