IBA briefing addresses share subscription details

The International Bank of Azerbaijan (IBA) held a briefing focused on the conclusions regarding the bank's shares, Azernews reports.

From June 11 to September 10, 2024, IBA accepted subscriptions for a new share issue totalling 322 million manats, with each share valued at 0.27 manat.

According to IBA Board Chairman Abbas Ibrahimov, following the full placement of new shares, the share of private investors in the bank's authorised capital will decrease to 10%, while the state's share will rise to 90%.

The primary goal of this public placement is to attract private investors and small shareholders. To facilitate this, the maximum subscription limit for one investor is set at 75,000 shares, amounting to 20,000 manats.