BAKU, Azerbaijan, September 25. Azerbaijan has significant potential for large companies to access international capital markets and pursue listings on foreign stock exchanges, Ruslan Khalilov, chairman of the Board of the Baku Stock Exchange (BSE), said Friday at the second Azerbaijan International Investment Forum in Baku, Trend’s correspondent reports from the event.
He said it is important to establish an appropriate environment to encourage corporate businesses to secure greater financing through capital markets and stock exchange listings.
“Looking ahead, we see the growing popularity of GDRs and dual listings on the London Stock Exchange. Based on Uzbekistan’s successful listing on the London Stock Exchange, I believe Azerbaijan is also moving in this direction,” Khalilov said.
The BSE chairman noted that Azerbaijan has numerous large and advanced companies that could be of interest to investors.
“I am confident that Azerbaijan has many advanced companies that could be as attractive to investors not only in the UK but across Europe and even North America as companies in other countries in the region,” he said.
According to Khalilov, establishing the necessary fundamentals and dialogue among sectors should be a priority for Azerbaijani companies seeking access to international capital markets.
He also highlighted the importance of strengthening investment culture and awareness of capital markets.
“This is not only about individual investors. It is also necessary to increase awareness among decision-makers at corporate businesses and large companies about various investment products and the opportunities to use capital markets as an alternative to bank financing,” the BSE chairman said.
He noted that one of the key factors in companies’ access to capital markets is businesses’ willingness and strategic approach to diversifying corporate financing.
“The key factor is the willingness of businesses and their desire to cooperate. Companies should take a strategic approach to genuinely diversifying their sources of financing. Local capital markets should not be viewed as an alternative to traditional sources of financing, but rather as a very good source that complements them,” Khalilov added.
