Bank Of Baku

Gandjabank raises share capital by 50%

Gandjabank raises share capital by 50%
# 16 February 2009 09:41 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. Azerbaijan State Committee on Securities has registered Gandjabank’s issue prospectus of ordinary registered shares.
The face value per stock is AZN 20, the total number is 250 000 and the amount AZN 5 million.
The issue will be realized through public offering on Baku Stock Exchange.
Exchange analysts say the placing is expected to start in February.
ADB Broker will underwrite the placing.
If successful, the company’s authorized capital will rise by 50% to AZN 15 million.
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THE OPERATION IS BEING PERFORMED