BAKU, Azerbaijan, April 13. With the start of the subscription for shares under the Initial Public Offering (IPO) of “PASHA Bank,” the ratio of market capitalization to GDP in Azerbaijan is expected to approach 4%, Ruslan Khalilov, Chairman of the Board of the Baku Stock Exchange (BSE), said during a press conference dedicated to the launch of the sale of “PASHA Bank” shares, Trend reports.
He noted that the ratio of the market capitalization of listed companies to gross domestic product (GDP) in Azerbaijan is at a low level compared to many benchmark countries—less than 10% and close to approximately 3%.
Ruslan Khalilov added that with the start of the IPO subscription for “PASHA Bank” shares, this indicator is expected to approach around 4%. In his view, this increase is significant and commendable.
The BSE chairman also mentioned that the institution is actively working not only with “PASHA Bank” and other participants in the financial sector, but also with potential issuers, informing them about the advantages of the IPO process.