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.