This was stated by Chairman of the Board, Chief Executive Officer of PASHA Bank Javid Guliyev at the "Opening Bell" ceremony dedicated to the registration of the IPO issue of PASHA Bank and the start of trading on the secondary market, held at the Baku Stock Exchange.
"As PASHA Bank, we have successfully completed the first private banking IPO in Azerbaijan, as well as the first IPO carried out by the private sector. Today we are launching trading of our shares on the secondary market of the Baku Stock Exchange.
This IPO was notable for a number of important indicators. One of the key points was the excess of investor demand over supply. Orders totaling 66.3 million manats were placed for the offered shares worth 51.3 million manats. More than 20,000 applications were submitted from approximately 18,000 investors," the chairman noted.