Azerbaijan, Baku, May 28 / Trend , N. Ismayilov/
Listing rules will be adopted for the Baku Stock Exchange (BSE) in a month, chairman Khayal Abdinov said.
"Listing rules passed the final reading yesterday and now they will be submitted to our shareholders, companies and BSE supervisory board," Abdinov said.
He said the rules will be adopted in a month and application will take three months.
"The transition to these new rules is scheduled for the beginning of the fourth quarter," Abdinov said.
The original draft rules provided for three levels: two - listing and listed three - out-listing level.
"Tougher requirements will be set for the first-level companies including corporate governance and company's activities. The second level is a more simplified level and a third one is an access to trades by companies without listing which want to sell their shares via stock exchange," Abdinov said.
About 10-15 companies are expected to enter the first level.
"The second-level will include more companies as the authorized capital stock will be increased via this level."
He said state securities will have own regime. The listing rules will not concern them, Abdinov said.
Do you have any feedback? Contact our journalist at: [email protected]