OREANDA-NEWS. September 03, 2012.   Bank of Azerbaijan OJSC begins practical increase of the share capital by 49.3% in a way of an additional share issue.

The Baku Stock Exchange reports that Bank’s shares are included in the BSE non-quotation list. Their placement will start from 4 September.

The State Securities Committee of Azerbaijan registered the new issue of shares Bank of Azerbaijan (825,000 shares at par value of AZN 20 each) on 10 August under number AZ1001005326. In the process of the shares placement the Bank may attract AZN 16.5 million in its capital. The placement underwriter is Respublika Invest Ltd.

The full placement of the shares of this issue will increase the Bank’s authorized capital from AZN 33.5 million up to 50 million that conforms to minimum requirement for overall capital of banks to take effect from 1 January 2014.