Azerbaijan: AccessBank issues Shares for 20 Million Manats (USD 24 ml.)

Mar 2010
Baku, Azerbaijan, March, 15 2010 - The State Committee for Securities has registered an issue of AccessBank’s shares.

According to the Committee, it was registered totally 20 million ordinary book-entry shares of AccessBank worth 2.09 manats each. Placement of the shares will be carried out in a way converting of par value from 2.09 manats into 1 manats.

Thus, overall volume of the issue totals 20 million manats.

AccessBank is 100% foreign-owned by six shareholders, consisting of: the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), the Black Sea Trade and Development Bank (BSTDB) , the Development Bank of the German Government - KfW Development Bank (20% share each), AccessHolding - a strategic investor in microfinance (16.5%), and LFS Financial Systems GmbH - a German consulting company (3.5%).


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