Baku Stock Exchange, Thecityuk Explore Dual Listing Options

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 8. The Baku Stock Exchange (BSE) met with a delegation from TheCityUK on Oct. 7 to discuss opportunities to strengthen Azerbaijan's integration into international capital markets and expand local companies' access to international sources of capital.

The information was reported by BSE.

The meeting was attended by independent IPO expert and TheCityUK adviser Chris Ennals, Euroclear representative Oliver Wenzel and TheCityUK representative Alexander Thomas.

The sides discussed the existing regulatory and technical framework that could enable Azerbaijani companies to access international capital markets. Particular attention was paid to potential dual-listing mechanisms that would allow companies to list their securities on both local and foreign exchanges.

The discussions covered existing legal and market mechanisms for international listings, potential obstacles companies could face when accessing foreign capital markets, as well as practical issues that may arise in this area.

The meeting also addressed the development of Azerbaijan's domestic capital market and further strengthening its links with international financial markets. The sides exchanged views on improving existing mechanisms to expand international investors' and financial institutions' access to Azerbaijan's capital market.

Access to international capital markets is important for companies seeking to diversify their sources of financing. Expanding dual-listing opportunities could make local companies more accessible to foreign investors, raise their visibility in international financial markets and increase their ability to attract capital.

The participation of a Euroclear representative was also significant in terms of international capital-market infrastructure. Euroclear is a global financial market infrastructure provider specializing in securities settlement and custody services. In this context, technical and institutional coordination related to access to international capital markets was also among the issues discussed at the meeting.

TheCityUK is a UK-based industry body representing the financial and related professional services sector. The organization represents a broad range of industries, including financial services, investment, insurance and professional advisory services.

According to TheCityUK, the financial and related professional services sector it represents accounts for more than 11% of the UK's gross domestic product and supports about 2.5 million jobs across the country. About two-thirds of these jobs are located outside London, in different regions of the UK.

The organization said the financial sector contributes to economic growth by providing capital and investment, professional advisory and insurance services. TheCityUK also represents the interests of its members and identifies strengthening the international competitiveness of the UK's financial services ecosystem as one of its key priorities.

BSE considers expanding ties with international financial institutions and leading capital-market participants one of the key areas for developing Azerbaijan's capital market. The exchange continues efforts to improve the transparency and competitiveness of the domestic capital market by studying international practices and creating new cooperation opportunities.

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