JSC Bank VTB (Azerbaijan) starts from August 12 this year to accommodate 135 million ordinary registered uncertified shares of nominal value of AZN 0.2, Baku Stock Exchange said.
Issue of the shares is included in the quotation list of the exchange. According to the prospectus, placement will be held by the mass demand. Underwriter of the stock is the brokerage company Ltd. Brokdil-az.
The shares will be implemented in two phases for 130 calendar days from the date of placement. In the first phase within 120 days from the date of placement of the shares, pre-emptive right to acquire the shares will be made available to the Bank's shareholders, pro rata to their shareholdings. At the second stage, during the last ten calendar days, the right to purchase the shares will be made available to any other person.
Russian Bank VTB acquired a 51% stake in Azerbaijan AF Bank and made re-branding of it in 2008. - 15D -
Economics
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