Azerbaijan's AGBank opens subscription to new issue of shares

Azerbaijan's AGBank opened a subscription to a new issue of shares, the bank said in a message Feb. 26.

AGBank is increasing its authorized capital worth seven million manats by issuing 3.5 million ordinary registered shares with par value of two manats each. The shares were registered by the Financial Market supervisory Authority on February 14.

Following the issue, the authorized capital of the bank will reach 109.2 million manats. Until the end of 2018, the bank intends to increase its authorized capital to 125 million manats.

AGBank has been operating in Azerbaijan since 1992.