BAKU, Azerbaijan, Oct. 27
By Zeyni Jafarov - Trend:
An auction on placement of state short-term bonds of the Ministry of Finance of Azerbaijan in the amount of 30 million manat with a circulation period of 364 days was held at the Baku Stock Exchange on October 27, 2020, Trend reports with reference to the stock exchange.
During the auction, 16 investors submitted 24 orders in the price range from 91.78 manat (nine percent) to 93.62 manat (6.85 percent).
In accordance with the decision of the Ministry of Finance, the cut-off price of bonds was determined at the level of 93.58 manat (6.9 percent), and the weighted average price amounted to 93.58 manats (6.9 percent). The total number of orders at nominal prices amounted to 101.8 million manat, and the volume of placement accounted for 42.5 million manat.
The bonds mature on October 26, 2021.
The volume of bonds offered by the issuer can be increased up to 50 percent if during the auction government bonds exceed the supply of demand and the price is satisfied by the issuer.
The auction participants must fulfill their obligations to purchase bonds by October 28, 2020.
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