BAKU, Azerbaijan, October 8. The Baku Stock
Exchange (BSE) met with a delegation from TheCityUK on Oct. 7 to
discuss opportunities to strengthen Azerbaijan’s integration into
international capital markets and expand local companies’ access to
international sources of capital.


The information was reported by BSE.


The meeting was attended by independent IPO expert and TheCityUK
adviser Chris Ennals, Euroclear representative Oliver Wenzel and
TheCityUK representative Alexander Thomas.


The sides discussed the existing regulatory and technical
framework that could enable Azerbaijani companies to access
international capital markets. Particular attention was paid to
potential dual-listing mechanisms that would allow companies to
list their securities on both local and foreign exchanges.


The discussions covered existing legal and market mechanisms for
international listings, potential obstacles companies could face
when accessing foreign capital markets, as well as practical issues
that may arise in this area.


The meeting also addressed the development of Azerbaijan’s
domestic capital market and further strengthening its links with
international financial markets. The sides exchanged views on
improving existing mechanisms to expand international investors’
and financial institutions’ access to Azerbaijan’s capital
market.


Access to international capital markets is important for
companies seeking to diversify their sources of financing.
Expanding dual-listing opportunities could make local companies
more accessible to foreign investors, raise their visibility in
international financial markets and increase their ability to
attract capital.







The participation of a Euroclear representative was also
significant in terms of international capital-market
infrastructure. Euroclear is a global financial market
infrastructure provider specializing in securities settlement and
custody services. In this context, technical and institutional
coordination related to access to international capital markets was
also among the issues discussed at the meeting.


TheCityUK is a UK-based industry body representing the financial
and related professional services sector. The organization
represents a broad range of industries, including financial
services, investment, insurance and professional advisory
services.


According to TheCityUK, the financial and related professional
services sector it represents accounts for more than 11% of the
UK’s gross domestic product and supports about 2.5 million jobs
across the country. About two-thirds of these jobs are located
outside London, in different regions of the UK.


The organization said the financial sector contributes to
economic growth by providing capital and investment, professional
advisory and insurance services. TheCityUK also represents the
interests of its members and identifies strengthening the
international competitiveness of the UK’s financial services
ecosystem as one of its key priorities.


BSE considers expanding ties with international financial
institutions and leading capital-market participants one of the key
areas for developing Azerbaijan’s capital market. The exchange
continues efforts to improve the transparency and competitiveness
of the domestic capital market by studying international practices
and creating new cooperation opportunities.