Azerbaijani bank ups nominal value of its shares

The Azerbaijani State Securities Committee registered the prospectus of Xalq Bank's ordinary non-documentary registered shares to the amount of 82.895 million manat, the State Committee said.

The emission will be placed by converting 2 million 142,000 shares at par value of 34 manat into the same amount of shares with a par value of 38.70 manat.

The authorized capital will increase by 13.8 percent - from 72.828 million manat to 82.895 million manat.

Xalq Bank has been operating since December 2004. By the end of June, the bank's assets totaled 641.13 million manat, total capital - 106.25 million manat.

The official exchange rate is 0.7866 manat to $1.


/Trend/