JSC AtaHolding, one of the leading holding companies in Azerbaijan intends to increase its authorized capital to 200 million manat. Increase in the share capital by 71.5 million manat has been announced.
The State Committee for Securities registered a prospectus for 35,759 ordinary registered shares on October 23. The offering of these securities will be massive.
In the first half of this year, the holding company that includes 13 companies (including one in Georgia) completed the placement of shares worth 38.845 million manat. Thus, the company's share capital was increased to 122.745 million manat. According to the audit report (Deloitte & Touche), the unpaid losses of Ata Holding on 1 January 2014 exceeded 41 million manat.
Over 2013 the assets of Ata Holding increased from 315.5 million to 436,500,000 manat.
The holding was established in 2003 and it consists of several financial institutions (Ata Bank, Ata Sigorta, Ata Leasing), as well as companies in the field of tourism, ICT, industry, etc. The holding owns 49% of the equity interest in JSC Bank VTB (Azerbaijan).
The founders of the holding are three companies registered in Panama and the Seychelles, which are controlled by the daughters of the President of Azerbaijan. --08B—
Economics
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