Demand for investment power grows in Azerbaijan
Azerbaijan, Baku, September 10 /Trend, A. Akhundov/
The desire to invest is growing amongst Azerbaijanis, the chairman of State Securities Committee Rufat Aslanli said.
"The Level of personal saving amongst the Azerbaijani people is increasing. When these personal savings exceed a certain level, demand for alternative instruments of investment grows," Aslanli told Trend on Tuesday.
Because of this, the state committee is preparing to hold the first IPO in the country.
"We have some requirements on companies looking to enter an IPO. They should have been operating with a profit for at least three years, they should have a clear corporate strategy for the coming three years, sufficiently transparent financial reporting and good corporate management. All this ensures profitable activity for a company and the further growth of its market value. The investors themselves should make decisions" Aslanli said.
As Aslanli said earlier, there are several companies which are practically ready to launch their IPO.
"However, there are several nuances due to which this process is postponed. Our task was to complete preparation to this process by the end of the year. We will complete the purely institutional preparations," Aslanli said.