Baku Stock Exchange ready to hold IPO (PHOTO)
Baku, Azerbaijan, Oct. 17
By Azad Hasanli – Trend:
The Baku Stock Exchange (BSE) is ready to hold an initial public offering (IPO), said Chairman of BSE Management Board Vugar Namazov.
He made the remarks at a conference, titled “Capital Markets of Azerbaijan: Opportunities and Prospects”, in Baku Oct. 17.
Namazov said that traditional financing instruments can no longer fully function and, if before the BSE had to explain to companies the need to enter the stock market, now the companies themselves have begun to actively seek ways to attract investors.
“Currently, capital markets have become a necessity,” he added.
“Thanks to the work done last year, we were able to successfully place the bonds worth $100 million of [Azerbaijan’s state oil company] SOCAR,” noted Namazov.
He went on to say that today the BSE operates as a modern platform of trading and post-trading service Centralized Trading Exchange system (CETA), which allows conducting about 25,000 transactions in a quarter of a second.