Azerbaijan’s Bank Respublika has put off selling a 10% stake to International Finance Corporation (IFC) by the year-end. The issue is expected to be discussed the annual general meeting at the year-end, the bank told APA-Economics.
Bank Respublika’s additional issue prospectus of stocks worth AZN 2,752,744 has been registered and the placement will increase the authorized capital to AZN 9,913,000 from AZN 7,161,000.
In January IFC made decision to lend a $6 million to Bank Respublika, of which AZN 1.5% will be invested in acquisition of a stake.
Bank Respublika was established in 1992. The shareholders are DEG Investment Corporation and Sparkassen-Finanzgruppe (25%+1). /APA-Economics/
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