Azerbaijani insurance companies may hold IPO
Baku, Azerbaijan, Oct. 9
By Taleh Mursagulov – Trend:
A number of insurance companies in Azerbaijan may hold an initial public offering (IPO), a source in the Azerbaijani insurance market told Trend on Oct. 9.
According to the source, for this purpose, the participants of the insurance market held meetings with representatives of the Baku Stock Exchange.
However, the source has not disclosed the names of those companies.
“Nevertheless, the Azerbaijani insurers also held the corresponding negotiations with investment companies,” the source added. “The insurance companies are greatly interested in IPO.”
IPO in Azerbaijan has not been carried out up till now. However, local banks and companies spoke about such plans at various periods.
For example, chief executive officer of Azersun Holding Savas Uzan previously told Trend about the holding of negotiations with foreign consultants for carrying out IPO of shares of the Azerbaijan Sugar Production Company, which is part of the holding.
One of the country's biggest banks Unibank is showing interest in IPO.
“The bank intends to hold IPO in the long term prospect,” chairman of the bank’s board Faig Huseynov earlier told Trend.