Finance Your Company Through Capital Markets
Expand your company’s financing opportunities through the capital markets. Baku Stock Exchange’s Listing Advisory Program (LAP) supports you at every stage — from initial application to primary market offering.
Our AdvantagesBenefit from the Listing Advisory Program!
Baku Stock Exchange provides full support to companies seeking to raise financing through capital markets during the issuance of securities within the framework of the Listing Advisory Program (LAP)
50+
11.5 mlrd
2.7 mlrd
2.79%
Listing Segments & Requirements
| Requirements | Main market | Standard market | Growth market |
|---|---|---|---|
| Share capital | ≥ 10,000,000 AZN | ≥ 200,000 AZN | - not required * - |
| Free float size | ≥ 5% | - not required - | ≥ 5% |
| Profitability | 1 out of the last 2 years at least | - not required - | - not required ** - |
| Supervisory Board | - required - | - not required - | - not required - |
| Industry | - not required - | - not required - | Real (non-financial) |
*Positive Net Assets
**Positive CashFlow
| Requirements | Main market | Standard market |
|---|---|---|
| Placement volume | ≥ 10,000,000 AZN | ≥ 500,000 AZN |
| Number of investors | ≥ 100 | ≥ 50 |
| Market maker | - required - | - not required - |
| Reporting period | Last 2 years at least | Last 1 year at least |
| Independent auditor | - required - | - required - |
| Profitability | 1 out of the last 2 years at least | - not required - |
Listing Maintenance Requirements
| Requirements | Main market | Standard market | Growth market |
|---|---|---|---|
| Free float size | ≥ 5% | - not required - | ≥ 5% |
| Secondary market velocity | ≥ 5% of free float size | - not required - | - not required - |
| Number of transactions in the secondary market | ≥ 1000 | - not required - | ≥ 50 |
| Disclosures | - required - | - required - | - required - |
Issuer’s Roadmap to the Capital Market
This short video explains the process of a company’s entry into the capital market — from application to trading — in a simple and transparent manner.
Procedure for Admission of Securities to Listing
Pre-Trading
- Selection of the underwriting company
- Registration of securities and the prospectus with the Central Bank
Trading
- Granting permission for trading
- Execution of trading
- Reporting of Trade Results
Listing
- Admission of securities to the relevant listing segment of the Baku Stock Exchange based on trading results.
- Ensuring the trading of securities in the secondary market
Secondary Market
- Free circulation of securities in the secondary market.
- Market-based real-time valuation of the issuer’s capitalization
Calculate Your Capital Market Entry Costs for Securities
State duty rate for the registration of securities and their inclusion in the State Register — Central Bank of the Republic of Azerbaijan (AZN)
One-time fee for opening a depository and issuer account (AZN)
One-time fee of 50 AZN for assigning international identification numbers to other securities
Annual fee for maintaining the register of owners of securities listed on the stock exchange — 0.02% of the issue amount (minimum AZN 50, maximum AZN 5,000).
Annual custody fee for securities listed on the stock exchange — 0.02% of the issue amount (minimum AZN 50, maximum AZN 5,000).
One-time fee
One-time fee
Annual listing fee — 0.01% of the issue amount (minimum AZN 2,000, maximum AZN 20,000).
Placement fee — 0.05% of the issue amount (maximum AZN 500).
State duty rate for the registration of securities and their inclusion in the State Register — Central Bank of the Republic of Azerbaijan (AZN)
One-time fee for opening a depository and issuer account (AZN)
One-time fee of 50 AZN for assigning international identification numbers to other securities
Annual fee for maintaining the register of owners of securities listed on the stock exchange — 0.02% of the issue amount (minimum AZN 50, maximum AZN 5,000).
Annual custody fee for securities listed on the stock exchange — 0.02% of the issue amount (minimum AZN 50, maximum AZN 5,000).
One-time fee
One-time fee
Annual listing fee — 0.01% of the issue amount (minimum AZN 2,000, maximum AZN 20,000).
Placement fee — 0.05% of the issue amount (maximum AZN 500).
The annual listing fee is not calculated based on the total amount specified in the base prospectus. Instead, it is calculated separately for each issued and approved final term (tranche) within the framework of the base prospectus.