Azerbaijan's ABB Bank Poised For Active Market Engagement Ahead
Date
9/24/2024 5:20:53 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, September 24. The
International bank of Azerbaijan (ABB) will continue its active
participation in market processes, Chairman of the Board of the
International Bank of Azerbaijan Abbas Ibrahimov said during a
briefing on the results of the share issuance, Trend
reports.
“ABB will actively engage in market processes. Our offerings for
clients are also constantly improving, allowing us to double the
effectiveness of their investments. This certainly places
additional responsibility on us. In the near future, we will
introduce the ability to form a secondary market on our platform.
Users familiar with the primary market processes know that we have
a special listing. This listing includes a dedicated section for
the Azerbaijani market as well as a separate category for other
markets. On this platform, it will be possible to buy and sell not
only ABB shares but also, we hope, new securities that will be
offered in the future,” he said.
According to the chairman, integration between the exchange, the
National Depository, and other banking applications is nearing
completion.
“Soon, these banks and listing offerings will be officially
presented, and all participants will receive appropriate
notifications. Overall, we have recently observed increased
activity in the stock market. We believe this stage will be a
significant moment for the development of capital markets, and we
will witness positive changes,” he added.
To note, in total, approximately 50 thousand applications from
more than 33 thousand investors were received for the initial
public offering (IPO).
This resulted in an increase in shareholders from 1,794 to
35,104 people.
The overall demand for ABB shares has risen by 7.8 percent
compared to the previous period.
84 percent of orders for ABB shares were made through digital
channels.
MENAFN24092024000187011040ID1108708003
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.