OREANDA-NEWS. On August 11, 2008 The State Committee for Securities has registered the issue prospectus of the ordinary registered stocks of International Bank of Azerbaijan OJSC, reported the press-centre of International Bank of Azerbaijan. 

The Baku Stock Exchange reports that the volume of the issue is AZN 100,000,000, the face value per stock AZN 0.20.

According to the issue prospectus, placement will be held by means of the initial public offering on Baku Stock Exchange. International Transaction Systems will be the underwriter of stocks placement. The shareholders of the Issuer have the right of priority during 10 months to acquire the stocks to be placed in proportion to their equity positions in the authorized capital.

IBA charter capital (AZN 100 million) has been paid by 1 574 shareholders – 234 legal entities and 1 340 individuals.

The IBA main shareholder is the Ministry of Finance of Azerbaijan (50.2%). The IBA has 40% up to 80% of market share in domestic banking depending on indicator.