'Demirbank' revises decision to increase stock capital

Baku. 14 November. REPORT.AZ/ “Demirbank” OJSC shareholders revised decision made in extraordinary general meeting held on August 6, 2016 to increase authorized stock capital for AZN 50 million.

Report informs referring to the bank.

According to information, “Demirbank” shareholders decided to raise stock capital from AZN 21 million to AZN 150 million instead of earlier determined AZN 71 million. In other words, bank’s stock capital will rise 7-fold.

Notably, “Demirbank” was founded in 1989 under name “Azerdemiryolbank” and rebranded in 2009. Banks stock include 105 million shares of AZN 0.2 each. Shareholders are as follows: European Bank for Reconstruction and Development (EBRD) – 25%; Netherlands Development Finance Company (FMO) – 10%; other legal entities – 0.25%; Rahman Hajiyev (Chairman of Observation Council) – 19.61%; Asabali Hajiyev – 9.65%; Roman Amirjanov – 5.45%; Sakina Hajiyeva – 5.3%; Konul Hajiyeva – 5.3%; other 858 individuals – 19.44%.