Shares of the largest bank in Azerbaijan to raise at least 200 million manat will begin on December 12th and will take at least four months. These conditions provide a prospectus, which is promulgated online BSE.
Total six-month period provided for its shares. Existing shareholders of the bank (over 1800 individuals and legal entities) should use its pre-emptive right to purchase shares at four months.
According to the document , on the 1st of October this year, IBA has creditor debts in the form of deposit , loan , syndicated loan and a subordinated loan totaling 2 billion 854.5 million manat in U.S. dollars and euros. The financial report of the bank in the first six months indicated that the assets of IBA exceed 6.7 billion manat. With paid-in share capital of 340 million manat, equity capital is 486.2 million manat.
Currently, the number of IBA shares in circulation is 1 billion 416 million 666 thousand 675 with a par value of 0.26 manat each. During the issue of shares announced plans to place 769,230,775 shares.
Recall that on the results of 2012 IBA sent to increase the authorized capital retained earnings in the amount of AZN 28,333,300 and currently paid-up share capital is 368.3 million manat.
Control of the bank with equity participation of 50.2 % of the shares retains the Azerbaijani government represented by the Ministry of Finance. Apart from that nobody has more than 10 % of the shares. - 08D-
Economics
-
The weaknesses of strategic planning in the Azerbaijani land transport sector were revealed during a briefing on improving legislation, which was attended by representatives of the Azerbaijan Land Transport Agency (AYNA) and the Ministry of Digital Development and Transport.
-
The Cabinet of Ministers of the Republic of Azerbaijan has made changes to the existing provisions regarding the approval of construction documentation and the service fees for construction. The amendments are guided by Article 119 of the Constitution of Azerbaijan and are aimed at simplifying processes related to construction permits and operations.
-
The Cabinet of Ministers of the Republic of Azerbaijan has approved a new procedure for the recruitment of medical personnel to medical institutions included in the state healthcare system. The decision, which comes into force on January 1, 2025, aims to enhance the implementation of compulsory health insurance in the country.
-
The Organization of Turkic States (OTS) convened a pivotal meeting in Guba, recently named the agricultural capital, to introduce the "OTS Made" brand for agricultural products. Representatives from the Ministries of Agriculture of Azerbaijan, Turkey, Uzbekistan, Kazakhstan, and the Turkish Republic of Northern Cyprus, along with experts from relevant departments, participated in the event.
Leave a review