Baku Stock Exchange to hold auction on placement of AzerGold's bonds
BAKU, Azerbaijan, Sept. 21
By Zeyni Jafarov - Trend:
The Baku Stock Exchange (BSE) will hold an auction on the placement of $10 million of the first tranche of interest-bearing, unsecured, book-entry bonds of AzerGold CJSC on September 24, 2020, Trend reports citing the BSE.
“The auction will last one day, and its results will be announced on the same day. The securities of 100,000 bonds with a par value of $100 each will be placed through a competitive auction,” the BSE noted.
“The bonds, which will be redeemed within 3 years, have an annual yield of 4 percent. The underwriter of the process is the PASHA Capital CJSC investment company. However, persons interested in participating in the auction can contact all investment companies that are members of the exchange,” noted the stock exchange.
“The issuer can’t withdraw the bonds during circulation. Individuals will not pay taxes on bonds from interest (coupons) paid by them until February 1, 2023. And legal entities will have to pay tax up to 10 percent of the interest they receive,” added the BSE.
Earlier, by the decision of the Listing Committee of the Baku Stock Exchange, the indicated bonds were included in the listing in the standard market segment.
(1 USD = 1.7 AZN on Sept. 21)