OREANDA-NEWS. June 24, 2008. Birlikbank OJSC has resumed process of recapitalization, although its charter capital conforms to the Azerbaijan National Bank’s requirement.

The Baku Stock Exchange reports that the State Committee for Securities registered the issue prospectus of ordinary registered book-entry stocks of Birlikbank. The issue volume is AZN 3 million, face value per stock AZN 200.

According to the issue prospectus, placement will be held by means of the public subscription method at the BSE.

AzerInterTrade LLC will be the underwriter of placement of stocks.

Due to placement of the issue Birlikbank’s charter capital will grow from AZN 13 million up to AZN 16 million. The Bank has 20 shareholder individuals. Insurance company Nishan owns 35.08% of Bank’s stocks.