Azerbaijan continues first IPO preparations
Baku, Azerbaijan, Nov. 29
By Emin Aliyev - Trend:
Azerbaijani company GoldenPay, specialising in electronic payments services, has presented plans on continued preparation for the first placement of shares in Azerbaijan by an initial public offering (IPO), a message from the Baku Stock Exchange (BSE) said on Nov. 27.
According to the message, presentation of the plans took place at a meeting of the company's representatives and partners that provide support to the company namely BSE, Azerbaijani State Committee for Securities and the National Depository Centre of Azerbaijan. They support the company as part of a consultative listing programme run by the BSE.
'The meeting also discussed the next steps associated with the process, such as underwriting issues, audit, legal and other aspects. Moreover, the BSE and other market professionals were given the necessary advice and guidance', the message said.
Goldenpay, established in 2007, is a provider of online payments in Azerbaijan. The system allows local companies to receive payment for rendered services or products using plastic cards of any bank, thanks to cooperation with international payment systems Visa and MasterCard.
The Hesab.az website acts as an online payment platform. It was built on the basis of Goldenpay payment technology.
Hesab.az portal allows the conducting of online payments for utility services, mobile and stationary communication services, Internet services and cable TV services using bank cards. Aside from that, users are also provided with services of repayment of bank loans and insurance services online.
Currently, the number of registered users of the portal is more than 74,000. They have the ability to create their own account, to keep a log on transactions and earning bonuses and participate in auctions.