Azerbaijan’s PASHA Bank talks IPO plans
Baku, Azerbaijan, Feb. 1
By Anvar Mammadov - Trend:
Azerbaijan’s PASHA Bank OJSC has no plans to hold an initial public offering (IPO) in the coming years, Taleh Kazimov, CEO and chairman of the bank’s board, said in an interview with Trend.
He was commenting on the recent issue of bonds in Azerbaijan by PASHA Yatirim Bankasi AS, a subsidiary of Azerbaijan’s PASHA Bank OJSC in Turkey.
“Because we are one of the main participants of the securities market, we are often asked about holding an IPO,” Kazimov said.
“Given that the capital adequacy ratio of PASHA Bank is 15 percent and the bank’s significant liquidity, we don’t have plans for issuing securities and borrowing funds for the near future,” Kazimov noted. “Despite this, we constantly monitor the market and depending on the situation, we may take the appropriate decisions in the future.”
In September 2017, PASHA Yatirim Bankasi AS, a subsidiary of Azerbaijan’s PASHA Bank OJSC in Turkey, placed eurobonds worth $25 million in Azerbaijan’s securities market.
PASHA Bank, founded in 2007, renders a range of corporate banking services, including issuance of loans, operations in the securities market, assets management, and treasury services.