Credo Bank posted nearly a third of the announced issuance of shares
Shares of Credo Bank for a total of 1 million manats were posted on Friday at the Baku Stock Exchange.
Emission of three thousand ordinary documentary shares of par value of 10 thousand manats passed state registration in October 2012. According to the Exchange, all the shares were sold in a single transaction (one investor). The underwriting services were provided by Chelsea Capital. To date they have posted 32.7% (9.8 million manat) of the announced issue. According to the legislation, an issue is held in case of placing half of it.
Paid-up share capital of the bank, thus, reached 30.34 million manat. CredoBank shareholders are 11 individuals and two entities. -15B -
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