Azerbaijani minister: Issuance of AzerGold's bonds - one of crucial events in 2020 for capital market (PHOTO)
BAKU, Azerbaijan, Sept.24
By Zeyni Jafarov - Trend:
The issuance of bonds of AzerGold CJSC is a successful result of measures taken towards the financial sector development in Azerbaijan, the Minister of Economy, Mikayil Jabbarov said.
Jabbarov made the remark at the meeting dedicated to the issuance of the company’s bonds to circulation, Trend reports.
The minister pointed out that the emission is one of the crucial events for the capital market in 2020.
He stressed that this step will highly contribute to the development of the financial sector and mining industry, as well as will play a special role in forming new investment opportunities for citizens.
Acting Chairman of the Board of the Baku Stock Exchange (BSE) Eldar Abdullayev, who also took part in the meeting noted that the new bonds will lead to diversification of financial instruments in the corporate securities market and create a favorable investment environment for investors with wider opportunities.
As a result of the meeting, a bell rang, symbolizing the issuance of bonds of AzerGold CJSC to the primary market. Thus, the preliminary trading of bonds on the BSE platform has been kicked off.
On September 24, 2020, the Baku Stock Exchange (BSE) held an auction on placement of the first tranche of interest-bearing, unsecured, book-entry bonds of AzerGold CJSC in the amount of $10 million.
The auction will last one day, and the results will be announced on September 24. The securities will be placed through a competitive auction. We are talking about 100,000 bonds with a par value of $100 each.
The bonds, which will be redeemed within three years, have an annual yield of four percent. The underwriter of the process is the PASHA Capital Investment Company.
Persons interested in participating in the auction can contact all investment companies that are members of the exchange.