Pasha Bank ups capital by 15 percent

The Azerbaijani State Securities Committee has registered the issue prospectus of ordinary registered shares of PASHA Bank, the committee said today.

They will be placed by converting10,000 shares with the nominal value of 13,686,94 manat in the same volume of shares worth 15,700 manat.

Thus, the bank's authorized capital will be increased from 136.87 million manat to 157 million manat.

PASHA Bank was established in June, 2007 and operates under licence of the Central Bank of Azerbaijan dated Jan.28, 2007.

Pasha Bank shareholders are: PASHA Holding with 60 per cent, ADOR Ltd with 30 per cent and Arif Pashayev with 10 per cent.


/Trend/