The insurance company Bashak Inam Sigorta proceeded to place additional shares amounting to 1,000,000 manat.
As stated in the press release of BSE, which conducted on-site accommodation, as a result of repayment of the share capital the joint Azerbaijani-Turkish insurer increased by 16.66% up to 7 million manat.
The company's shares under the additional issue are included in non-quotation list of BSE. Package of securities is divided into 5 000 shares with a par value of each being 200 manat.
Recall, the Ministry of Finance of AR on November 4 suspended the license of the company because of not matching its total capital with minimum capital requirements of insurers. Now the insurer has six months to bring the capital to the required minimum level.
According to the approved schedule, until the end of 2014, the share capital will be increased to 7 million, next year - up to 8 million, and in 2016 - up to 9 million manat.
In January-October this year, the awards will be 2.5 million manat, and the payments - 1.1 million manat.
Bashak Inam Sigorta established in 1996 provides services for 26 types of insurance. --17D-
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