BAKU, Azerbaijan, February 13. The process of the Initial Public Offering (IPO) of Azerbaijan's PASHA Bank will give an additional impetus to both the capital market and the development of the country's economy, Javid Guliyev, Chairman of the Board of PASHA Bank, said at an event dedicated to the bank's IPO, Trend reports.
"The process focuses on sharing the value we have created with a wider group of investors and continuing growth together.
The success of PASHA Bank is directly related to the sustainable development of real sector enterprises and our partners," he noted.
According to Guliyev, behind this step is a simple and understandable approach.
"To share with a wider group of investors the value, trust, and capital that we have created and formed over many years.
Based on the recommendation of the board of the bank and the decision of the shareholders, it is planned to offer part of this value to market participants through the placement of shares, primarily to individuals. We are convinced that the value created by a strong business model, built over many years, should be distributed not only within PASHA Bank, but also on a wider scale," he explained.
The chairman emphasized that the placement of shares is aimed at further strengthening long-term and sustainable development, increasing transparency, and financial stability. As part of the IPO, 5% of the bank's capital - 932,926 ordinary registered shares - will be offered to the market.
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