IBA Starts Placing Additional Share Issue
OREANDA-NEWS. April 22, 2014. According to the Baku Stock Exchange (BSE), International Bank of Azerbaijan (IBA) starts placing shares of additional issue in the amount of 5 million 338 ths. 661.12 manats, not purchased under preemption right.
According to the information on December 12, 2013 IBA started placing of shares of additional issue in an amount of 200 million 1.5 manats. Of which shares in amount of 194 million 661 thousand 340.38 manats have been repurchased.
In this April 14, 2014 deadline for pre-emptive rights to purchase shares of the additional issue.
In this regard, sale by public subscription of shares of additional issue in the amount of 5 million 338 thousand 661,12 manats will start on April 14, which were not purchased under preemption rights.
Placing of 20 million 533.321 thousand shares with par value of AZN 0.26 per security will be executed until May 25, 2014 .
As previously reported, as a result of placement of additional shares issue in the amount of 200 million 1.5 manats authorized capital of the IBA will increase by 54.3 % - up to 568 million 333.337 thos.AZN.
On October, 2013, the IBA shareholders decided to gradually increase of the authorized capital during four years by 500 million manats. In such a case, first increase - by 200 million manats, and in the following years - by 100 million manats per year.