Leading private bank of Azerbaijan – UniBank- plans to realize a placement of 25% of its shares with the use of IPO mechanism in the London and Frankfurt exchanges.

Mediamax reports referring Trend that the Chairman of Supervisory Board of the bank Eldar Garibov said this.

“IPO is the strategic plan of the bank for the end of 2009 and start of 2010”, Chairman of the bank stated, noting that the issue of placement is still in the process of discussion and there is no final decision made.

As Eldar Garibov stated, with the participation of the present share-holders, by the end of 2008, the bank plans to make the aggregate capital reach 80mln manats from the present 60mln. He noted that next year the aggregate capital of the bank is expected to total 150mln manats.