OREANDA-NEWS. August 26, 2009. New listing rules of the Baku Stock Exchange (BSE) established financial census to include the listing of the first level.

According to the listing rules, an issuer should have capital in the amount of AZN 5mln (approximately US6.2mln on current course) for the listing of the first level. In addition, he should have also annual net profit over 3 last years. There is no such requirement for the listing of the second level.

As an additional support to the development of the capital market and with aim to promote listing of companies, the BSE Executive Board made a decision to put off the collection of listing fees in connection with introducing the new tariffs until 1st January 2010.

The new tariffs stipulate charge of AZN 300 for consideration of documents for inclusion of securities in listing of I and II levels. Lump-sum charge of AZN 3,000 is taken for inclusion in listing on 1 level and AZN 600 on II level. Charge for bonds was established at AZN 600 and 300 respectively.

Annual charge is envisaged as well. For stocks it makes 0.03% of overall face value of securities (but is not less than AZN 500 and not above AZN 20,000 on I level and 0.015% (but is not less AZN 250 and not over AZN  6,000 on II level. For bonds this charge makes 0.02% (from AZN 600 up to AZN 4,000) and 0.01% (from AZN 300 up to AZN 2,000) respectively.

The full description of the tariffs could be found at http://www.bfb.az/index.php?r=37&lang=en.