Caucasus Development Bank increases capital by almost 13%

The start of the Caucasus Development Bank (CDB) OJSC ordinary registered book-entry shares placement at “Baku Stock Exchange” (BSE) CJSC is planned to be held beginning from 10 October, 2014, the BSE said Oct.9.
Some 7 million shares with par value of 1 AZN have been issued within the framework of emission.

The official exchange rate for October 9 is 0,7843 AZN / USD.
Underwriter of the shares placement is "Chelsea Capital" LLC. Emission placement term expires July 15, 2015.

The authorized capital of the bank will increase by 12.73 percent or up to 62 million AZN, as a result of the placement of shares.

The authorized capital of the bank as of August 1 this year amounted to 55 million AZN, total capital - 60.62 million AZN, and assets - 132.47 million AZN.

"Caucasus Development Bank" JSC was founded April 23, 1996 to resolve the issues of acceleration of socio-economic development of the countries of the Caucasus, with the assistance of enterprises, banks, organizations and citizens of Azerbaijan, USA, Germany, Russia and Georgia.

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