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Successful continuation of IPO of two bank "pillars " of Azerbaijan

February 25, 2014

    Baku/25.02.14/Turan : On Monday launched IPO of JSC Capital Bank, during which it was bought 99.9 % of shares in the issue on 31 applications.

    According to the report by BSE, some existing shareholders of the bank redeemed at par value of the shares (10 AZN ) totaling 69,963,050 manats. Thus, waiting for a buyer are 3 695 shares. Last Friday, the regular placement of shares of " International Bank of Azerbaijan ." From 138 transactions existing shareholders acquired shares (nominal value - 0.26 manat ) totaling 4176 424.98 manat. Thus, on December 12 last year IBA managed to place shares in the amount of 110 880 800 manat. Total placements participated in 243 individuals and entities , including the Ministry of Finance ( a 50.2% equity ) . Upon completion of the placement, the authorized capital of JSC Capital Bank will reach 150 million manat , JSC International Bank of Azerbaijan - 568.3 million manat. JSC Capital Bank has not yet released a strategy to increase the capital . IBA plans to raise 100 million AZN annually from shareholders in the years 2015-2017. The market value of Capital Bank shares is 23 manat , and that of IBA is 0.19 manat per piece . - 08D-

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Source: Turan Information Agency (Azerbaijan)

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