Azerbaijan, Baku, May 21 / Trend A. Akhundov /
Borsa Istanbul invites Azerbaijani companies to conduct IPO (initial public offering) in Turkey, Vice-President of the burse Mustafa Baltaci told journalists on Tuesday.
"If, for example, companies are planning to put 10 percent of their shares to IPO, we recommend them to sell 7-8 percent of them on Borsa Istanbul, and the rest in Baku. This is necessary for the development of the market in Azerbaijan. Azerbaijani market is not yet ready to absorb a large amount of shares," Baltaci said.
According to him, there is a large demand for investment through IPO at Borsa Istanbul; therefore Azerbaijani companies will have no problem with attracting assets. Thus, according to him, 26 IPO has been successfully held at the burse last year.
"The daily turnover of the Istanbul Stock Exchange is 1.8 billion dollars," Baltaci said.
As the chairman of the State Securities Committee of Azerbaijan Rufat Aslanli said before, the committee expects the first IPO in the country by the end of this year.
Under the advisory listing programme we are working now with some companies for launching IPO. We see great optimism, and will try to bring to IPO at least one company's securities until the end of the year. Our research shows that the market demand for the IPO is several times greater than the supply," Aslanli said.