The quotation of the Baku Stock Exchange (BSE) is set to sell small stake (33,386 shares) of JSC DemirBank. This is the first case of the shares of the bank, which is included on the first level of the Listing Exchange. Earlier quotes of DemirBank were based on the address of transactions that could not precisely determine the real value of its shares.
With a nominal value 0.20 gepiks the shares are offered to investors at 0.29 gepiks. The shares are offered by a brokerage company, a member of the BSE. In recent months, common shares of DemirBank were traded at the BSE not less than at 0.32 gepiks.
In 2008-2009, the shares of DemirBank were marketed at 1 manat. However, due to the financial crisis that hit the stock market in Azerbaijan, the value of its shares fell below par. According to Turan, the last three months there has been an rise trend in the bank's shares. Today its shares are at 0.26 gepiks.
OJSC DemirBank was founded in 1989. Its registered capital is 21 million manat, and equity is 39.7 mln (31 December 2011).
The shareholders are about 900 individuals and entities. The shareholders are the European Bank for Reconstruction and Development (25% + 1 share) and the Netherlands Development Finance Company (FMO - 10%). - 08D-
Economics
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