BAKU, Azerbaijan, June 24. Initial Public Offering (IPO) of Azerbaijan's PASHA Bank marks the end of a stage, and the launch of a new milestone, CEO of PASHA Capital Isi Mustafayev said, Trend's correspondent reports from the event.
He made the remark at the "Opening Bell" ceremony dedicated to the celebration of the public offering of PASHA Bank OJSC shares and the start of secondary market operations with the shares held at the Baku Stock Exchange (BSE).
Mustafayev noted that the IPO of PASHA Bank, in addition to making a significant contribution to the development of capital markets in the country, once again demonstrated the high interest of individual investors in this market.
"We emphasized in all meetings that one of the main goals of PASHA Bank in its IPO is to support the development of capital markets. In this regard, I would like to express my gratitude to the shareholders and founders of the bank, as well as its management. They made a significant contribution to the formation of this instrument and the development of capital markets," he pointed out.
According to him, the IPO process lasted about two months, and during this time, significant experience was gained for all participants.
"We have learned a lot during this period, gained new experiences. I want to thank every person and institution that supported us in this process. First of all, I would like to express my gratitude to the Central Bank of Azerbaijan, BSE, the National Depository Center, as well as ABB Invest, Unicapital, and PASHA Capital, which acted as underwriters, as well as other investment companies that supported the process," Mustafayev underscored.
The CEO noted that although the completion of the IPO is the end of one stage, it's also the beginning of a new era.
"A secondary market for PASHA Bank shares will be formed in the near future. As a market maker, our main task will be to work towards maintaining liquidity in this market and maintaining investors' confidence in the secondary market," he said.
At the end of his speech, Mustafayev thanked all parties involved in the IPO process and wished them success in their future activities.
"We have come a very successful path. I thank everyone who has contributed directly or indirectly to this process, and I wish them success in their future activities," he added.
