Baku—On 16 April 2014, Kamal Mammadzada, a Partner in the Dentons Baku office, as well as Baku office representatives Aygun Mammadova (Marketing Manager) and Lala Aslanova (paralegal), participated at the presentation ceremony of the launch of the “Listing Advisory Program” run by the Baku Stock Exchange jointly with its partner firms, including Dentons.

The Listing Advisory Program is intended to encourage the development of local capital markets, listings by local companies and the offering of stocks and bonds by local issuers to the general public in Azerbaijan.

For the launch of the Listing Advisory Program, Kamal spoke at the ceremony about Dentons’ role as the provider of legal advisory services in this program, as well as the specific legal services to be provided to issuers.

During the presentation ceremony, Azerbaijani IT company GoldenPay, which specializes in electronic payment services, signed a Memorandum of Understanding and Assistance with the Baku Stock Exchange. GoldenPay is the first local company to launch an IPO on the Baku Stock Exchange, which will take place later this year, and the Dentons Baku office is acting as legal advisor to GoldenPay for the IPO.

During the launch ceremony, the Baku Stock Exchange, KPMG, Dentons, Baker & McKenzie, and the local brokerage firms of Pasha Capital, Standart Capital, InvestAZ and Chealsea Capital also signed the Memorandum of Understanding with the intention to offer various free and fee-based services to potential issuers in Azerbaijan.

With the attendance of international and local financial institutions, banks and representatives of selected companies and brokerage companies, the speakers discussed a variety of steps associated with the listing process, such as underwriting issues, and audit, legal, PR and other requirements.

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