The attempt of local JSC Zaminbank to bring the level of authorized capital to the AZN 50 million required by the Central Bank has failed. It failed to repay an additional issue of shares for 10 million manat. The placement has been extended until September 24, when it will be exactly a year from the date of registration.
According to Baku Stock Exchange (BSE), in the case of the autumn success, the authorized capital of the bank will increase by 23.7% - up to 52,181,800 manat. The decision to extend the placement of additional shares was taken at the general shareholders' meeting on March 17, 2014.
The issue has been divided into 50,000 shares each worth 200 manat.
JSC Zaminbank with the current registered capital of 42,181,800 manat was created in 1992. -17D-
Economics
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