JSC Muganbank decided to increase the authorized capital to 55.2 million AZN. Yesterday the Baku Stock Exchange (BSE) reported that the State Securities Committee (SSC) registered the issue prospectus of ordinary registered book-entry shares of the bank in the total amount of 5 million AZN.
The total production is 25,000 securities with a par value of 200 manats each. The placement underwriter is JSC Tekhnika Capital Management.
The total capital of the bank, according to 1 July, is 52.4 million manats. Muganbank is not threatened with merging, as the level of its total capital (52.4 million AZN) meets the requirement of the Central Bank for the minimum size of this segment (50 million).
JSC Muganbank was founded in 1992. It has 44 branches and 6 offices in the capital and outside, and a representative office in Moscow. --17D-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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