Amrah Sigorta increased its authorized capital


August 11, Fineko/abc.az. Amrah Sigorta increased its authorized capital by AZN 300,000 or 6%, bringing it from AZN 5 million up to AZN 5.3 million.

ABC.AZ informs with reference to news agency Report that the news was given by company's director Emil Agasiyev.

He points out that 1,500 new shares with nominal value of 200 manats each were issued for capital growth. Amrah Sigorta securities were purchased in accordance with the existing shareholders' shares. In other words, the distribution of AS shareholders' shares has not changed. The placement was supported by AzFinance investment company.

"A small part of Amrah Sigorta's funds remained in the liquidated Amrah Bank. The liquidator (Azerbaijan Deposit Insurance Fund) will return this money to us one day on a priority basis. But the main factor that makes capital growth necessary is the requirement to create reserves related to the company's expenses by the end of this year. In general, we needed about AZN 250,000 of additional funds, and the shareholders provided this money in excess," Agasiyev said.