Published: November 14, 2013
Golden Pay, a payment services company, to float in March.
Golden Pay, Azerbaijan’s first and largest payment services provider, is to carry out the country’s first non-privatisation initial public offering (IPO), its CEO Farid Ismalizade has confirmed.
The decision to list will be officially declared on December 2, with trading expected to begin sometime in March. Pasha Bank has been chosen as bookrunner, with Dentons providing legal advice.
The company was founded in 2007 but started operations in 2009. Its revenue has been growing by between eight and ten times per annum in each of the past three years.