BAKU, Azerbaijan, September
25. Azerbaijan has significant potential for
large companies to access international capital markets and pursue
listings on foreign stock exchanges, Ruslan Khalilov, chairman of
the Board of the Baku Stock Exchange (BSE), said Friday at the
second Azerbaijan International Investment Forum in Baku, Trend’s correspondent reports from the
event.


He said it is important to establish an appropriate environment
to encourage corporate businesses to secure greater financing
through capital markets and stock exchange listings.


“Looking ahead, we see the growing popularity of GDRs and dual
listings on the London Stock Exchange. Based on Uzbekistan’s
successful listing on the London Stock Exchange, I believe
Azerbaijan is also moving in this direction,” Khalilov said.


The BSE chairman noted that Azerbaijan has numerous large and
advanced companies that could be of interest to investors.


“I am confident that Azerbaijan has many advanced companies that
could be as attractive to investors not only in the UK but across
Europe and even North America as companies in other countries in
the region,” he said.


According to Khalilov, establishing the necessary fundamentals
and dialogue among sectors should be a priority for Azerbaijani
companies seeking access to international capital markets.







He also highlighted the importance of strengthening investment
culture and awareness of capital markets.


“This is not only about individual investors. It is also
necessary to increase awareness among decision-makers at corporate
businesses and large companies about various investment products
and the opportunities to use capital markets as an alternative to
bank financing,” the BSE chairman said.


He noted that one of the key factors in companies’ access to
capital markets is businesses’ willingness and strategic approach
to diversifying corporate financing.


“The key factor is the willingness of businesses and their
desire to cooperate. Companies should take a strategic approach to
genuinely diversifying their sources of financing. Local capital
markets should not be viewed as an alternative to traditional
sources of financing, but rather as a very good source that
complements them,” Khalilov added.