BAKU, Azerbaijan, June 24. PASHA Bank’s initial
public offering (IPO) closed at 129% oversubscription and added
nearly 18,000 new shareholders, according to Murad Suleymanov,
Member of the Board of Directors and Chief Financial Officer of the
bank, Trend's
correspondent reports from the event.


Speaking at the “Opening Bell” ceremony at the Baku Stock
Exchange marking the listing of PASHA Bank OJSC shares and the
start of secondary market trading, Suleymanov said the offering
attracted strong investor interest and significantly exceeded
supply.


He noted that approximately 17,960 new shareholders were created
as a result of the IPO.


“Total demand during the subscription period amounted to 66
million manats. We offered 5% of our capital to the market, but
demand exceeded supply. In total, 932,926 shares were allocated,
with the overall placement volume reaching 51.3 million manats,” he
said.


Suleymanov added that a single-price mechanism was applied to
all investors during the IPO to simplify the process and ensure
broad participation.


“The goal was to make the process more transparent and
accessible, while enabling the widest possible investor base to
participate. The average investment size was 2,857 manats,” he
said.







He said the bank’s key strategic objective was to distribute
shares among as broad an investor base as possible, noting that
priority allocation mechanisms were used during the placement.


As a result, 87% of the funds raised came from individual
investors, while about 90% of orders were placed through PASHA
Capital.


Suleymanov also highlighted the role of digital channels in the
IPO process, noting that PASHA Bank upgraded its mobile application
to enable share purchase orders.


Orders worth 18 million manats were placed via the mobile app
alone, he said, adding that 55% of the total placement value was
executed through digital channels, compared to 45% through physical
channels. In terms of order count, 81% were placed digitally.


He further noted that 99.99% of IPO participants were
individuals, with only 18 legal entities taking part. In total,
17,942 unique retail investors became new shareholders of PASHA
Bank.