Bank Respublika OJSC plans to increase its charter capital by another 39,546,542 manats, or 19.7%, from 200,751,530 manats to 240,298,072 manats. The capital increase will be achieved by raising the nominal value of 30,188,200 outstanding shares. The nominal value of each share will be increased from 6.65 manats to 7.96 manats.
In addition, Bank Respublika plans to issue preferred shares worth 80 million manats. The 80 million new shares with a nominal value of 1 manat each will be placed through a private offering. The securities are expected to be acquired by existing shareholders of Access Bank OJSC as part of the previously announced consolidation process. Thus, Bank Respublika's charter capital will amount to approximately 320 million manats, of which 25% will belong to the new shareholder.
It should be noted that Bank Respublika was founded in 1992. 63.32% of the bank's shares are owned by Natig Guliyev, 18.46% by Elchin Guliyev, 8.47% by Namig Guliyev, 5.45% by Shakir Ragimov, 4.22% by SIDT, and 0.08% by other persons.
