Royal Bank begins placement of ordinary documentary shares

Placement of ordinary documentary shares of Azerbaijani Royal Bank begins on June 22. As a result, the authorised capital of the bank will increase to 24.54 million manat, Baku Stock Exchange (BSE) said on Friday.

The authorised capital of the Bank amounted to 24.14 million manat for today.

"Royal Bank applied to Baku Stock Exchange (BSE) for inclusion of its shares on to the non-quotation list," BSE said.

Royal Bank registered its prospectus of ordinary registered shares to the sum of 400,000 manat in the State Committee for Securities of Azerbaijan. Some two million shares at 0.2 manat each were issued within the prospectus.

The underwriter is Çelsi Kapital.

According to the legislation, the shares of the prospectus may be placed during the year.
Royal Bank is a commercial bank operating in Azerbaijan. It has 32 branches in Baku and regions of the country. The bank was established on August 1993 as a joint commercial bank, OZ Bank.


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