Azerbaijan’s PASHAbank to offer 5% stake in IPO aimed at retail investors

Azerbaijan’s Paşabank plans to offer 5% of its capital to investors through an initial public offering (IPO), aiming to broaden its shareholder base and deepen the country’s capital market, Chairman of the Management Board Cavid Guliyev said on Friday.

The lender will place 932,926 ordinary registered shares on the market, following a recommendation by the bank’s management board and a decision by shareholders, Guliyev said.

“This step is not accidental. It is based on a clear and straightforward approach — to share the value we have created over the years, the trust we have earned and the capital we have built with a broader investor base,” Guliyev said.

He said the offering would primarily target individual investors and is designed to strengthen the bank’s long-term sustainability, transparency and financial resilience.

Further details of the placement, including pricing and timing, will be disclosed later by Chief Financial Officer Murad Suleymanov, the bank said.

Guliyev said the IPO was expected to provide additional momentum to Azerbaijan’s capital market development and contribute to the broader economy.

Paşabank is one of Azerbaijan’s leading commercial banks, serving corporate and retail clients. The lender’s move comes as authorities seek to expand domestic capital markets and encourage greater retail investor participation.

N.Tebrizli