Ratio of market capitalization to GDP in Azerbaijan to approach 4% with IPO – Ruslan Khalilov

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.