Azerbaijani company getting ready for IPO
Baku, Azerbaijan, May 14
By Huseyn Veliyev - Trend:
GoldenPay, an online payments company in Azerbaijan, is preparing for an Initial Public Offering (IPO) in 2019, the company told Trend.
Possibility of holding an IPO will be considered before the end of 2018, according to the company.
"The first attempt to conduct an IPO failed due to reduction in the exchange rate of the national currency. Given this fact, it was unprofitable to conduct an IPO at that time. Surely, IPO is among the company's important goals, and if it is held this will be the first IPO in the country. This year it will be known when we will be able to conduct an IPO. It is possible that this may happen next year," the company said.
GoldenPay plans to attract about two million manats, which will be enough for realizing the plans for next few years.
"However, future shareholders of the company should not expect that they will get rich in the shortest time. The stock prices will grow as the company expands its activity and offers new services. For example, the share acquired in 2019 at a price, let say, for one manat can grow five times by 2025. Fortunately, there are prerequisites for this."
"Today, our monthly turnover is 15 million manats. The expansion of payment services will allow us increase this figure to 25 million manats by 2025. Accordingly, the shareholders will have to count on a long-term perspective," the company said.
($1 = 1.7 AZN on May 14)
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