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On June 24, 2026, Baku Stock Exchange hosted a “Ring the Bell” ceremony dedicated to the Initial Public Offering (IPO) of the shares of "PASHA Bank" OJSC.
The event was attended by Ruslan Khalilov, CEO of Baku Stock Exchange; Farid Mammadov, CEO of PASHA Financial Holding; Shahin Mammadov, Chairman of the Supervisory Board of PASHA Bank; Javid Gouliyev, CEO of PASHA Bank; Isi Mustafayev, CEO of PASHA Capital Investment Company; Otar Sharikadze, Managing Director of TBC Capital; as well as representatives of the financial and business community.
During the event, speakers highlighted the significance of PASHA Bank’s successful Initial Public Offering (IPO) for the development of Azerbaijan’s capital market, emphasizing that the transaction would contribute to broadening the investor base and increasing market participation.
In his remarks, Ruslan Khalilov, CEO of the Baku Stock Exchange, stated: “PASHA Bank’s IPO marks the beginning of a new chapter in the history of Azerbaijan’s capital market. The public offering of shares by the country’s first private company to a broad base of investors demonstrates the market’s growing maturity, increasing investor confidence, and expanding financing opportunities. We are confident that this achievement will serve as an example for other companies and provide additional momentum for the further development of the capital market.”
As part of the ceremony, Murad Suleymanov, Chief Financial Officer of PASHA Bank, delivered a presentation on the results of the IPO, providing detailed information on investor participation and the outcomes of the offering.
The ceremony concluded with representatives of the Baku Stock Exchange, PASHA Bank, PASHA Capital, and TBC Capital ringing the Opening Bell to symbolize the commencement of secondary market trading in PASHA Bank’s shares.
The Baku Stock Exchange continues its efforts to support regional economic development by expanding issuers’ access to financing and fostering a reliable investment environment for investors. Through its contribution to the development of the capital market, the Exchange promotes the deepening of financial markets and supports the sustainable growth of the national economy.
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