The general meeting of shareholders of Mugan Bank decided to increase the bank's authorized capital.
The shareholders decided to increase the authorized capital by 10 million manat. After completion of the issue the bank's authorized capital will amount to 75 million AZN.
Recall that in November Mugan Bank completed the placement of 40,000 shares at the par value of AZN 200 each and the share capital was increased to 65 million AZN.
Mugan Bank has been operating since 1992 and the shares of the bank are owned by four individuals. ----71D
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