Baku Stock Exchange finished placing the last issue of AFB Bank stocks totaling 10 million manat.
According to the exchange, all of the shares were sold in two transactions (two investors) carried out at intervals of one day.
Thus, the capital reached 52.3 million, exceeding the new requirements for the minimum level of capital of 50 million manat, which will come into force on 1 January 2015.
The main stake (99.48 % of the equity) of the bank is concentrated in the hands of LLC Gilan (belongs to the family of the Minister of Emergency Situations of Azerbaijan). -15B -
Economics
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