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.