Nikoil Bank to increase authorized capital

Baku. 5 October. REPORT.AZ/ Nikoil Bank OJSC will increase authorized capital by AZN 35,5 mln or by 19,24% to AZN 220 mln.

Report informs, for this purpose 17,75 mln shares will be issued in nominal value of 2 AZN per share.

Shares will be placed by closed subscription on Baku Stock Exchange (BSE). They are expected to be purchased by existing shareholders of the banks.

Nikoil Bank, which has been operated since 1994, was established on the base of commercial bank “Ülpər” in 2002. Today its authorized capital is AZN 184,5 mln. The bank’s shareholders owned by Topaz Investments CJSC (91.84 %), unnamed physical persons (7.97 %) and ISR Holding LLC (0.19 %).