Baku, Azerbaijan, Dec. 21
Trend:
Listing in Azerbaijan should become more attractive, said Vugar Namazov, Chair of Baku Stock Exchange (BSE), at the “Capital Markets in 2018” event held in Baku.
He said that it is stocks but not other tools that are a heart of today's market.
'IPO (initial public offering) should be ensured to expand the market. This is needed to make listing more attractive,” Namazov said.
According to him, today BSE offers great conditions for accepting companies for listing.
'In 2016 we updated the technical platform and created a trade system based on the system of Korean stock exchange. This system is among the top technologies in the world. We updated our legal framework. Now we have to revive business by using the platforms,” Namazov said.
Head of BSE pointed three directions that mainstreamed the current markets - control, competition, and technology.
“If we fail today to build our capital markets, improve control and technology, we will lose competition, and our companies may turn to foreign stock exchanges, and we will lose clients,” he said.
According to Namazov, the current listing process in BSE is split into three levels - major market, standard market, and alternative market.
This approach attracts more companies to being listed, both major companies meeting top standards and small and middle businesses just emerging, he said.
'The future goal will be to have maximum possible number of companies listed. This year we have drawn two companies - Unibank and Metak to listing. Unibank is getting ready to issue bonds and stocks', Namazov said.