Qafqaz Inkishaf Banki Placed 45.5% of the Announced Issue of Shares

Shares of Qafqaz Inkishaf Banki at the total amount of AZN 1 million are available on the BSE.

Issue of 40 million ordinary registered non-documentary shares of 1 manat passed state registration in December last year. According to the Exchange, all the shares were sold in two transactions (two investors).

Underwriting is provided by Chelsea Capital LLC. Today they have posted 45.5% (18.2 million AZN) of the announced issue. According to the legislation issue is held in case of placing half of it. The paid charter capital thus reached AZN 33 mln.

The bank is owned by one legal person and 12 individuals. It is noteworthy that the number of shareholders of the bank was ten, and with the arrival of three new shareholders the share of the main shareholder of the bank and the chairman of the Supervisory Board Eldar Ismailov fell from 57.3% to 45.9%. - 15B -


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