BAKU, Azerbaijan, April 29. On 27 April EY Azerbaijan and the Baku Stock Exchange (BSE) jointly organized a seminar titled “Tax Advantages of Listing,” bringing together market participants to discuss the opportunities created by listing and recent developments in Azerbaijan’s equity market.
The event opened with welcome remarks by Arzu Hajiyeva, EY Tax and Law Partner, and Oqtay Gasimov, Chief Commercial Officer of the Baku Stock Exchange.
In her opening speech, Arzu Hajiyeva noted that the seminar had been planned for a considerable time and emphasized the symbolic significance of its timing, coinciding with the Initial Public Offering (IPO) of PASHA Bank OJSC shares. She underlined the critical role listing processes play in the development of capital markets and highlighted that, despite a focus on profitability, many investors in Azerbaijan continue to favor real estate over capital market instruments.
Oqtay Gasimov shared insights into investment market development trends in Azerbaijan, the benefits investments generate for companies and investors, and the importance of expanding access to capital markets for the national economy. He also stressed that equity and bond markets are continuously monitored and that companies’ participation in capital markets is being actively encouraged.
A panel discussion moderated by Arzu Hajiyeva featured Sarkhan Piriyev, Head of the Trading Department at PASHA Bank OJSC, and Farhad Mansurov, Head of the Listing Department at the Baku Stock Exchange. The discussion covered key topics including the development of Azerbaijan’s capital market, the advantages of equities and bonds as investment instruments, taxation of investment income, benefits for companies raising capital through public markets, the role of the tax environment in enhancing investment attractiveness, and future opportunities and prospects in modern capital markets.
During his presentation, Sarkhan Piriyev provided detailed insights into the IPO process, including the first-time public offering of shares by a private bank, subscription procedures, pricing factors, dividend policy, share allocation mechanisms, and priority principles applied when demand exceeds supply.
Farhad Mansurov informed participants about the introduction of new listing rules effective from 6 May 2026, aimed at creating a more transparent, simplified framework aligned with international standards for issuers, investors, and exchange participants. He also outlined key characteristics of equity and bond market segments and approaches to monitoring daily market prices.
The event concluded with an interactive question-and-answer session, allowing participants to engage in in-depth discussions and exchange views on topics of interest.
Through such initiatives, EY continues to support the sustainable development of Azerbaijan’s capital market, promote financial and tax literacy, and contribute to the formation of a more transparent tax environment for investment income.
