Azerbaijani companies will be eligible for IPO in nearest future

Baku. 9 March. REPORT.AZ/ “Azerbaijani companies will be eligible for Initial Public Offering (IPO) in nearest future.”

Report informs, acting chairman of Baku Stock Exchange (BFB) Board of Directors Vugar Namazov told reporters.

According to him, companies must be ready for IPO: “The companies must be ready for this themselves. Compulsory IPO means absolute violation of market principles. Initial negotiations over introduction of IPO procedures for companies are underway”.

V.Namazov also commented on proposal of European Bank for Reconstruction and Development (EBRD) to issue AZN bonds: “Some works have been done in this direction. The decision must be made by opposite side. Our mission is successful implementation of this. I think that we are capable of coping with this. We have finished technical, legal and organizational issues”.

He noted that deals over shares of about 950 stock companies are managed at BFB: “In reality, viewing through the prism of the market, there is a rising interest for bonds. Probably you remember how successful was the issue of SOCAR bonds”.