Baku. Nijat Mustafayev – APA-Economics. Azerbaijan State Committee on Securities has registered BE&G Insurance Company’s issue prospectus of book-entry ordinary registered shares.
The face value per stock is AZN 5 000, the total number is 80 and the amount AZN 400 000.
The issue will be sold through public offering on Baku Stock Exchange.
Experts say the flotation is expected to start in October.
If successful, the company’s authorized capital will rise by 50% to AZN 1.2 million.
BE&G was established in 1998 under the name of Nakhchivan Insurance Company and renamed in 2001.
The insurer earned AZN 961,015 in premiums and paid AZN 233,656for insurance claims during 2007.
As of July 1, its authorized capital stood at AZN 800,000. The company provides 23 voluntary and 4 compulsory types of insurance services.
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