Azerbaijani bank ups capital

Rabitabank" applied to "Baku Stock Exchange" (BSE) for inclusion of its ordinary registered book-entry shares to the non-quotation list of BSE. The start of the Rabitabank's shares placement is planned to be held beginning from Jan. 5, 2012, BSE said today.
The issue volume is 5. 41million manat.

The quantity of shares is 266,815. Par value is 20.29 manat. Underwriter is "Celsi Kapital" company. Rabitabank is a commercial bank that has operated in Azerbaijan since 1993. Rabitabank has become the fourth bank in Azerbaijan, in which IFC will acquire stake. Rabitabank has cooperated with IFC and EBRD since 1999. Controlling stake in the bank (86.1 percent) still belongs to the Chairman of the Supervisory Board Rabitabank Zakir Nuriyev.


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