Finance

Finance

IBAR starts new bond issue next week

04 December 2013 13:52 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. The International Bank of Azerbaijan OJSC (IBA) starts sale of shares within the framework of the largest recapitalization program in the history of the country.

According to MBA, starting from December 12, 2013 until April 12, 2014 the Bank will sell shares of new issue registered by Azerbaijan State Securities Committee under AZ1003004582 number. During this period the acting shareholders will have priority right to purchase the shares. The transactions will be performed through broker company – International Transaction System LLC (67, Nizami str., Baku, phone number: (99412) 4930091).

“Additional share issue is carried out within the framework of realization of the General Meeting of the Bank shareholders on increasing of IBA charter capital by AZN 568,333.337”, - the Bank informs.

This issue will let to increase charter capital by AZN 200 million and 1.5 (769230775 shares with AZN 0.26 par value).

At that, 50.2% of the Bank shares belong to Azerbaijan Ministry of Finance.