Nishan Sigorta raises share capital by 25%

Nishan Sigorta raises share capital by 25%
# 29 December 2008 09:11 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. The State Committee for Securities has registered Nishan Sigorta Insurance Company’s issue prospectus of ordinary registered book-entry stocks.
The volume of the issue is AZN 200 000 and face value per stock AZN 50.
According to the issue prospectus, placement will be held through public subscription on the Baku Stock Exchange.
Flotation is expected to start in January. The successful flotation would increase the bank’s authorized capital by 25% to AZN 1 million.
Nishan Sigorta has been in operation since 1992. As of January 1, 2008, its authorized capital stood at AZN 800 000.
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THE OPERATION IS BEING PERFORMED