Azerbaijan, Baku / corr Trend I.Khalilova / The Baku Stock Exchange (BSEX) jointly with the international audit company Deloitte will organize the first conference dedicated to initial public placement of Azerbaijani securities, Khayal Abdinov, the chairman of the BSEX Managing Board, said.
The event is intended for potential emitters and accent is made on joint stock companies of an open type that have potential opportunities for the issue of securities.
"It is important for companies to understand the priorities of IPO and they will get information on the country's stock market. We should demonstrate the country's readiness to placing them in securities," Abdinov said
According to Abdinov, the companies will soon understand the need for IPO for attracting funds, because they increase in price and become more attractive for investors.
At present, the turnover of the country's stock market reaches AZN 3.7bln and by the end of the year it is expected to exceed AZN 4bln and perhaps attain AZN 4.5bln. Such increase in operations [at the beginning of the year it was at the level of AZN 3bln] is related to an increase of turnover on repo-operations, which reaches AZN 1.5bln and notes of the National Bank of Azerbaijan (AZN 1.460bln).
Demand for state securities has increased in connection with appearance of vacant funds at the banks. Meanwhile, US, British and Russian investors appeared in the stock market of the country and they are prepared to invest not only in corporate bonds and shares, but also in state securities.