Equity stakes in PASHA Bank redistributed


October 28, Fineko/abc.az. The distribution of Pasha Bank shareholders' equity stakes shares has changed.

ABC.AZ reports that this happened as a result of an increase in the Bank's authorized capital by more than AZN 21.5 milion or 6.5% - from AZN 333 million up to over AZN 354.5 million.

Thus, 49 out of the 646 new shares with par value of AZN 33,300 put into circulation by Pasha Bank in order to raise the authorized capital were purchased by Bank's key shareholder, Pasha Holding LLC, and 597 shares by another shareholder, Arif Pashayev. The third shareholder, Ador LLC, did not participate in the process.

As a result, Pasha Holding’s equity stake in PASHA Bank decreased from 60% to 56.82% and the stake of Ador from 30% to 28.18%. Arif Pashayev’s equity stake grew from 10% up to 15%.