Baku, Azerbaijan, April 17
By Emin Aliyev - Trend:
Azerbaijani GoldenPay became the first company which joined the Listing Advisory Program of the Baku Stock Exchange (BSE).
The relevant memorandum of understanding was signed by GoldenPay board member Ken Babin and the head of the stock exchange Fariz Azizov following the presentation on April 16.
"The company understands the importance of the securities market and entering the stock exchange for business development," he said.
"We are grateful to the partners of this project and look forward to fruitful cooperation," he said.
The experts will conduct the necessary consultations and trainings for GoldenPay as part of the program, aimed at improving the skills of the company representatives and explaining the various aspects and procedures associated with the listing, according to the agreement.
GoldenPay is a company claiming to hold the first IPO (initial public offering) in the country. The inclusion in the BSE listing is one of the few necessary steps. Moreover, the company will also have to fulfill several requirements, to change the organizational structure from the limited liability company into an open joint stock company, as well as to pass international audit. The first IPO in the local market may be held by late 2014, according to various estimates.
Goldenpay is a provider of online payment services in Azerbaijan, established in 2007.
translated by NH
edited by CN