Azer-Turk Bank issue prospectus registered

The amount is AZN 3,030,000, face value per stock 2 AZN. According to the issue prospectus, the placement will be held through public subscription on the Baku Stock Exchange.

Azer-Turk Bank will underwrite the placement, APA reports.
 
The potential bidders can apply to any Baku Stock Exchange-member organization having a brokerage license.

Azer-Turk Bank will increase its authorized capital 43.5% to AZN 10 million. The bank told that the capital rise will come from the existing shareholders.

At present the bank's nominal capital is AZN 6.97 million.

Azer-Turk Bank OJSC was established by Turkey's T.C. Ziraat Bank and Azerbaijan's Agrarian-Industry Bank in 1995. The bank is owned by T.C. Ziraat Bank (46%), Agrarcredit Bank (46%), Germany’s Ziraat Bank International AG (4%) and Azerbaijan’s Turanbank (4%).