The FINANCIAL -- According to APA-Economics, the National Bank of Azerbaijan said it has granted a license to Bank Avrasiya for banking operation in the country.
The decision was passed at the bank’s board meeting late November.
The Central Bank said the license is termless and allows 100% Azeri capital bank to provide all banking services.
In November Azerbaijan’s State Committee for Securities registered Bank Avrasiya’s issue prospectus of book-entry ordinary stocks.
The committee said the face value per stock is AZN 1,000, the number of stocks is 20,000 and the total amount of the issue is AZN 20 million.
The issue will be floated through public offering on Baku Stock Exchange.
Experts say flotation will start in December.