Baku, Azerbaijan, April 22
By Emin Aliyev - Trend:
Azerbaijan's first initial public offering (IPO) will be held by the end of 2014, the chairman of the Baku Stock Exchange Fariz Azizov said.
"The company that has expressed a desire to hold IPO, currently completes the transformation process. I would like to note that the company has been transformed into an open joint stock company," he said.
He went on to add that the applicant should meet the standards of corporate governance and listing requirements of the BSE, to focus on conduction of international audit, assessment of its own company and development of a strategic plan.
"At the next stage, a company should do the marketing part of this task, to hold a series of road-show and try to attract potential investors," he told Trend on April 22.
In general, currently there is a growing interest in holding IPO at the BSE, according to Azizov.
"Wide variety of companies demonstrate their interest - from large enterprises with state participation to small companies," the BSE chairman said.
The time of holding IPO is an important factor which can directly affect the success of the placement, according to the BSE chairman.
"We endorse the company's activity, which verifies each step in order to enter IPO with the necessary level of preparation," Azizov said.
As reported earlier, GoldenPay, a company specializing in the field of electronic payments, is preparing to hold its IPO.
Goldenpay is an online payment system that allows local companies to receive payments for services or products by using any bank's cards, thanks to co-operation with Visa and Master Card international payment systems.
The portal of electronic payments Hesab.az, created on the basis of Goldenpay, serves as a platform of online payments online.
The website allows making online payments through credit cards, for various services, including public utilities, mobile and internet communication, cable TV and more.
Along with that, services for repaying bank loans and online insurance services are also available for users. The current number of registered users is over 103,000.
Translated by S.I.
Edited by S.I.
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