Azerbaijani bank increases authorized capital

Azerbaijani bank increases authorized capital
16:07 3 Dekabr 2015
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Baku, Azerbaijan, Dec. 3

By Azad Hasanli – Trend:

The State Securities Committee (SSC) of Azerbaijan has registered the issue prospectus of ordinary registered book-entry shares of the VTB Bank in the amount of 2 million manats, the message of the Baku Stock Exchange said.

Some 2,000 shares with a par value of 1,000 manats each have been released within the framework of the emission.

The placement underwriter is Invest-AZ OJSC.

As a result of the emission, the authorized capital of the bank will reach 52 million manats.

The bank's share capital is distributed among the three holders, namely: Nigar Mehdiyeva (75 percent), Sadiq Rza (19 percent) and Tyukazban Makhmudova (6 percent).

The VTB bank was founded in 2010.

The official exchange rate for December 3 is 1.0512 AZN/USD.

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