PASHA Bank’s IPO concludes with a 129% subscription rate

The first IPO in Azerbaijan’s private banking sector concluded with demand for PASHA Bank shares exceeding the offered amount by 29%. A total of 17,960 unique investors participated in the offering, which ran from April 13 to June 12.

The total subscription amount reached AZN 66.3 million, while the placement amount stood at AZN 51.3 million, with 932,926 shares placed. Some 81% of orders were submitted through digital channels, while digital channels accounted for 55% of the total placement amount.