Bank Of Baku

Azernagliyyatbank moves to more than double share capital

Azernagliyyatbank moves to more than double share capital
# 18 March 2009 09:57 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. The State Committee for Securities registered the issue prospectus of ordinary registered book-entry stocks of Azernagliyyatbank OJSC.
The volume of the issue is 15 000 000 AZN, face value per stock 200 AZN. According to the issue prospectus, placement will be held by means of the public subscription method at the Baku Stock Exchange.
«UniCapital» OJSC will be the underwriter of placement of stocks.
Placing of stocks is expected to start in March-April.
If realized successfully, the bank’s authorized capital will rise by a factor of 2.4 to AZN 25.784 million.
Azernagliyyatbank has been in operation since 1989. As at July 1, its assts stood at AZN 19.975, loan portfolio at AZN 16.050, deposit portfolio at AZN 8.043 million, total capital at AZN 11.203 million and authorized capital at AZN 10.784 million.
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