Azerbaijani bank increases authorized capital by 27%
By Trend
The Azerbaijani bank "TuranBank" increased its authorized capital by 27.3 percent to 70 million manats, Trend reports with reference to the bank’s message.
In accordance with the decision of the bank’s shareholders dated Jan. 14, 2019 it was decided to increase the authorized capital by 15 million manats by placing an additional emission in the amount of 13,864 shares with a par value of 1,082 manats for one security.
The first part of the shares from the additional emission in the amount of 9,244 shares passed the state registration in the Financial Market Supervisory Authority of Azerbaijan (FIMSA), during which the emission process began.
The bank’s authorized capital is over 55 million manats.
TuranBank has been operating in Azerbaijan since 1992.
(1.7 manats = 1 USD on May 8)
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