First IPO on Azerbaijani stock market expected within 18 months
International audit company KPMG expects the first IPO (initial public offering) on the Azerbaijani market in the coming 18 months,the managing partner of KPMG in the country Vugar Aliyev said in his speech at the seminar 'Raising Capital in Baku and London: New Opportunities' in Baku, Trend news agency reported.
"Azerbaijan's economy is developing rapidly. Both local and foreign investors are looking for new markets. Development of the local capital market is very important, both for attracting investments in Azerbaijan and export of investments from the country," Aliyev said.
He said a five-fold increase in the Azerbaijani Central Bank's demand to the capital of banks in the country creates new opportunities for the public sale of shares through the London Stock Exchange, as well as through the Baku Stock Exchange (BSE).
"The IPO process consists of many stages. Preparation towards the process is the first and most important stage. It requires structural changes in the companies willing to carry out IPO. We should be well prepared for the launch of this process," Aliyev said.
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