OREANDA-NEWS. September 29, 2009. The Baku Stock Exchange and the International Finance Corporation have today held a conference entitled "Listing: an Alternative Way of Funding" on the introduction of the new listing rules on the BSE.

The conference was attended by representatives of IFC, Azerbaijan Investment Company, the European Bank for Reconstruction and Development, London Stock Exchange, Istanbul Stock Exchange, governmental agencies and local companies.

Chairman of Supervisory Board, AZEL Igor Yakovenko has shared experience of AZEL Company’s work in the securities market and told about implementation of the Corporate Governance Project under support of IFC. As he mentioned in his report, “as a result of participation in corporate governance improvement program a Supervisory Board and a Management Board with distinct responsibilities were established in the Company. The Internal Audit Committee was established as well. AZEL started its work in the securities market in 2007 and issued bonds with face value 100 USD and 14,5% interest rate. Bonds were placed at the Baku Stock Exchange. AZEL Company  will continue its work in this direction and plans to issue new bonds”. At the end of his speech Mr. Yakovenko has expressed its thanks to conference particpants for attention and stated the importance of such type of events for development of securities market in Azerbaijan. The speech of Mr.Yakovenko received appreciation of the audithory.

Then, presentations on "Alternative Ways of Funding", "New listing on the Baku Stock Exchange", "Investment Priorities: Local and International Experience", "Market-Making and Underwriting" were held.