Azer-Turk Bank’s issue prospectus registered

Azer-Turk Bank’s issue prospectus registered
# 30 May 2007 13:12 (UTC +04:00)
The State Committee for Securities has registered Azer-Turk Bank’s issue prospectus for book-entry inscribed stocks.
The amount is AZN 3,030,000, face value per stock 2 AZN. According to the issue prospectus, the placement will be held through public subscription on the Baku Stock Exchange.
Azer-Turk Bank will underwrite the placement.
The potential bidders can apply to any Baku Stock Exchange-member organization having a brokerage license.
Azer-Turk Bank will increase its authorized capital 43.5% to AZN 10 million. The bank told APA-Economics that the capital rise will come from the existing shareholders.
At present the bank’s nominal capital is AZN 6.97 million.
Azer-Turk Bank OJSC was established by Turkey’s T.C. Ziraat Bank and Azerbaijan’s Agrarian-Industry Bank in 1995. The bank is owned by T.C. Ziraat Bank (46%), Agrarcredit Bank (46%), Germany’s Ziraat Bank International AG (4%) and Azerbaijan’s Turanbank (4%). /APA-Economics/
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