On November 3 started placement of an additional issue of shares by joint Azer-TurkBank, which will allow it to bring the level of the authorized capital up to 50 million manat in accordance with the requirements of the Central Bank on the level of capitalization.
According to the information of the Baku Stock Exchange (BSE), the amount of the emission is 36,552,680 manat - 3.7 times greater than the current share capital.
The shares of the additional issue have not been included in the quotation list of BSE. The nominal value of each share is 1 manat, total there are 36 552 682 securities.
The underwriter of the additional issue is LLC Invest-Az. Placement of shares of the additional issue is to be completed on November 14, 2014.
Azer-TurkBank with a registered capital of 13,447,318 manat was established in May 1995. Currently, 50% of its shares are owned by the State Committee for Property Affairs of Azerbaijan, 46% - by Turkish ZiraatBank, and 4% - by ZiraatBank Germany. --17D-
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