Local bank changes hands
The privatization of Azerbaijani major KapitalBank`s state-owned
shares has drawn to a close.
A tender was organized in two stages to sell 85% of the state-owned shares in KapitalBank`s charter capital to legal entities. AtaHolding and Pasha Holding each acquired 30% of the stock, while Khalg Sigorta (People`s Insurance) LLC - 15%, and Azersun Holding 10%. 5% of the stock was sold to the open joint-stock company`s staff, while 10% to natural entities, the State Committee on Property Management told AssA-Irada.
KapitalBank`s assets amount to 252 million manats ($303 million), while its credit portfolio - 122 million manats ($145 million), and charter capital 24 million manats ($28.9 million).
KapitalBank, which has been in business since 2000, runs 88 subsidiaries across the country.
A tender was organized in two stages to sell 85% of the state-owned shares in KapitalBank`s charter capital to legal entities. AtaHolding and Pasha Holding each acquired 30% of the stock, while Khalg Sigorta (People`s Insurance) LLC - 15%, and Azersun Holding 10%. 5% of the stock was sold to the open joint-stock company`s staff, while 10% to natural entities, the State Committee on Property Management told AssA-Irada.
KapitalBank`s assets amount to 252 million manats ($303 million), while its credit portfolio - 122 million manats ($145 million), and charter capital 24 million manats ($28.9 million).
KapitalBank, which has been in business since 2000, runs 88 subsidiaries across the country.
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