The authorized capital of AXA MBASK increased by 63%

The level of the authorized capital of the insurance company AXA MBASK reached 14.32 million manat. Baku Stock Exchange (BSE) has registered an increase in the ability to prevent the risk by 63%.

According to the Exchange, the shares were placed on Feb. 5 as a result of a single transaction.

Recall the State Securities Committee February 3 registered the issue prospectus of 14 400 registered no-entry shares, the par value of each of which is 382 manat (total 5.58 million manat).

The registration number is AZ1002003692. The underwriter is Unicapital.

The Open Joint Stock Company AXA MBASK has been operating in the insurance market of Azerbaijan since 1992 and provides services on 25 voluntary and 4 compulsory types of insurance.

Recall that in October 2010 the insurance company changed its main shareholder. Controlling stake (51%) was acquired by AXA Group (France) through its subsidiary AXA Sequros Generales, SA, De Sequros Y Reasequros (Spain).

December 7, 2010 the license of MBASK was updated into AXA MBASK in connection with the change of the company's name.

The paid-in share capital of the company now stands at 8.74 million manat.

It has a network of five branches and representative offices in Azerbaijan. - 17D-


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