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ECONOMY

Jahangir Asgarov Buys All New Premium Bank Shares

Jahangir Asgarov buys all new Premium Bank shares, raising his stake to 86.25% as bank capital reaches 174.6 million manat.

Chloe Hall
ByChloe Hall- Senior Editor
|
0
Jahangir Asgarov Buys All New Premium Bank Shares
Photo: Prepared by Bond.az

Jahangir Asgarov, former president of Azerbaijan Airlines (AZAL), has increased his stake in Premium Bank from 84.47% to 86.25%.

According to Oxu.Az citing Report, this follows an increase of the bank's authorized capital by 20 million manat (12.9%), raising it from 154.6 million to 174.6 million manat.

Asgarov acquired all new shares issued for the capital increase.

As a result, the stakes of other shareholders decreased: VIP Aviation Services LLC fell from 15.22% to 13.47%, and Elvira Ahmadova's stake dropped from 0.31% to 0.28%.

Premium Bank was founded in 1993 as AZAL Bank, renamed to Silk Way Bank in 2008, and rebranded again in 2018.

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Jahangir Asgarov Buys All New Premium Bank Shares | Bond.az