Conference on stock exchange listing held in Baku

Khayal Abdinov, president of the BSE, spoke about the essence of the listing, saying the new rules will serve the development of stock exchange.

Chairman of State Committee on Securities Rufat Aslanli noted that the application of new listing rules in Azerbaijan coincided with the global financial system recovery.

According to him, Azerbaijan’s GDP growth for 8 months was 5% and industrial production growth was 4%. Fixed capital investment during January-August
amounted to 4.6 billion manats, foreign exchange reserves - $17 billion, a surplus balance of payments - $4 billion.

Shahmar Movsumov, the executive director of the State Oil Fund of Azerbaijan, the application of new listing rules will create an opportunity to companies to raise funds and would contribute to the development of the stock market.

Then, presentations on "Alternative Ways of Funding", "New listing on the Baku Stock Exchange", "Investment Priorities: Local and International Experience", "Market-Making and Underwriting" were held.

The conference was attended by representatives of IFC, Azerbaijan Investment Company, the European Bank for Reconstruction and Development, London Stock Exchange, Istanbul Stock Exchange, governmental agencies and local companies.

/APA/