OREANDA-NEWS. September 29, 2010. The State Committee for Securities of Azerbaijan has registered an issue prospectus of ordinary registered book-entry shares of Gala Sighorta OJSC.

The Baku Stock Exchange (BSE) reports that according to the issue prospectus, placement will be held by means of the public subscription method at the BSE.

The voluem of the issue with state registration number AZ100100822P is AZN 2.5 million (2,500 shares with par value of 1,000 each).

The placement underwriter will be Caspian Financial Ltd.

Up to date insurance company’s equity capital was paid at the level of AZN 1 million and the new issue will increase it 3.5-fold. The company is ownership of two shareholders – reinsurance company AzRe (60% of shares) and Nizami Makhmudov (40%).