(MENAFN- Trend News Agency)
BAKU, Azerbaijan, September 19. Chairman of the
Board of Baku stock exchange CJSC (BSE), Ruslan Khalilov, has
announced seven strategic initiatives to be followed by it over the
next three years, Trend reports.
Addressing a press conference dedicated to the BSE rebranding,
he said that four initiatives are related to the bond market, while
three are related to the stock market.
"The first initiative in the bond market is to encourage bond
issuance by state enterprises. They have potential in this area,
and we anticipate an increase in the share of state enterprises in
the bond market," he emphasized.
According to Khalilov, over the next three years, the volume of
government bonds can increase to 1.3 billion manat ($760
million).
The second initiative is to attract institutional investors to
the market.
The third initiative is to stimulate the issuance of corporate
bonds (with growth potential estimated at 1.5 billion manat or $880
million).
The fourth initiative is to increase the role of individual
investors in the bond market (with a forecasted potential of 280
million manat, or $164.7 million).
Regarding the stock market, the following initiatives were
announced:
- taking necessary measures to facilitate the participation of
individual investors in the stock market;
- promoting the initial public offering (IPO) of shares from
private enterprises, with the anticipated growth of the
capitalization of the private enterprise stock market estimated at
500 million manat ($294 million);
- launching an IPO acceleration program.
To note, the BSE has rebranded. The changes are visible not only
in the new logo of the BSE, whose main values are honesty,
sustainable development, and partnership, but also reflected in the
initiatives of its new strategy (approved this spring), especially
in relations with market participants.
“The brand update implies the intention to make the exchange's
interaction with market participants and partners more transparent
and reliable. These relationships, in turn, increase the Baku Stock
Exchange's international competitiveness and open new opportunities
in the local market,” the BSE said.
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