Azerbaijan, Baku, Jan. 06 / Trend /
Amendments were made to listing tariffs of the Baku Stock Exchange (BSEX) after a meeting of Stock Exchange's board held on Dec. 28, BSEX said.
Beginning from 2010, one-time payments for review of documents of issuers appealing to stock exchange for listing will be canceled. It was also decided to reduce tariffs for the first five issuers from one-time payments for listing and annual payments for maintenance of papers on listing in the amount of 50 percent, and the following five issuers in the amount of 30 percent in 2010.
According to rules adopted in August last year, three levels are envisaged, two being listing and one being non-listing level. More stringent requirements, including corporate governance, activity of the company will be laid for companies of the first level. The second level is a more simplified level, while the third is the admission to haggles of the companies which want to sell their shares through the stock exchange, which have not been listed. 10-15 companies are expected to pass the first level. More companies are expected to pass the second level, because the increase in authorized capital will pass through the second level. Government securities will have their own special program.