OREANDA-NEWS. On July 05, 2007 the Ministry of Justice of Azerbaijan has re-registered leasing company Joint Leasing (International Bank of Azerbaijan Group) in connection with equity stake acquisition in its capital stock by British company Dolphin Leasing, reported the press-centre of IBA.

The IBA reported that company’s re-registration was conducted on June 18, 2007.

After re-registration Dolphin Leasing will acquire a 53% equity stake in it due to the IBA stake and the IBA will keep 47% of shares.

AzeriLeasing’s current paid capital stock is 700,000 manat.

Under the arrangement with the new shareholder it was decided to keep Company’s current charter capital and then to make its increase decisions.

Earlier IBA chairman of the board Jahangir Hajiyev announced AzeriLeasing recapitalization up to $3 million as minimum from current 700,000 manat. The Company is also planning to raise leasing portfolio up to $40-50 million.