Baku Stock Exchange on September 13 signed six deals on the next issue of the placement of shares of the International Bank of Azerbaijan. The total value of placement is 6256 manat.
Stock offering by IBA began in June this year and will be completed by June 2013. Existing shareholders (more than 1,800 individuals and legal entities) are entitled to purchase a proportionate share in the authorized capital of the bank during the 10-month period.
The authorized capital of IBA is 240 mln. The state has a 50.2% stake in the bank. The value of the new issue of shares is 100 million manat. The Ministry of Finance has got its share ahead of schedule. Therefore, the issue can be considered valid.
Note that the informal market value of shares of IBA "is no more than 18 gepiks with the par value of 24 gepiks. In September, the shares of the bank were given at an average of 1.60 manat with a nominal value of 20 gepiks. -0 -
Economics
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