Over Thirty Thousand Investors Acquire Shares Of Azerbaijan's ABB Bank

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 24. More than 33 thousand investors have purchased shares of the International Bank of Azerbaijan (ABB), 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.

"The decree lifting restrictions for Azerbaijani citizens regarding ABB shares aims to attract private investment into national projects and carries important strategic goals. One of the primary objectives is to broaden citizen participation in the management of corporate structures and foster the development of a quality equity market in our country. We take pride in achieving these goals while the state remains the main shareholder. The key aim is to ensure that as many citizens of Azerbaijan as possible can invest in ABB shares," he stated.

The chairman noted that the growth in shareholders signifies the development of equity markets in Azerbaijan, which, in turn, supports economic progress.

"ABB has made share purchases accessible to everyone through traditional and digital channels, as well as via other banks and investment companies. This represents a new form of 'people's shares' available to all. We have achieved a historic milestone-more than 33 thousand investors have purchased ABB shares for the first time in our country's history. This success marks a new phase in the development of the domestic equity market," 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.

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