Kapital Bank increases its authorized capital


August 12, Fineko/abc.az. Kapital Bank plans to increase its authorized capital by AZN 20 million or 8.85% and increase it from AZN 225.85 million up to AZN 245.85 million.

ABC.AZ informs with reference to news agency Report that 1,614,205 new preferred, interest-bearing, registered shares with par value of 12.39 manats each will be issued for capital gains.

Thus, the number of preferred shares of the Bank in circulation with an annual yield of 15% will increase by 50% and reach from 3,228,410 to 4,842,615.

The securities will be placed at the Baku Stock Exchange by mass offering method within 1 week. In the first 2 days of this the pre-emptive right of shareholders (Pasha Holding LLC, Pasha Sigorta OJSC and Pasha Heyat Sigorta OJSC, individuals) will be recognized.

Kapital Bank was established in 2004 on the basis of the United Universal Joint Stock Bank (BUS Bank).