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BSE: Work underway with Azerbaijani companies ready for IPO

Tuesday, April 25
There are currently a large number of companies in Azerbaijan, that are physically ready for holding an initial public offering (IPO), and the Baku Stock Exchange is working with them, Vugar Namazov, acting chairman of BSE Management Board, said in an interview with Trend.

"But at present, our companies have wrong attitude towards an IPO. For them, this is a sale of property to which one can resort only at the last moment," he said.

"Getting listed on a stock exchange is not only about raising funds it also greatly promotes a company. I know there are companies that understand this," Namazov added.

He said that the Baku Stock Exchange is actively working with a number of companies that are going to enter the debt instruments market and that there are those interested in issuing shares.

"I believe it is not long before this happens, as a stable legal and technical basis has been formed for holding an IPO in Azerbaijan," he noted.