BAKU, Azerbaijan, July 5
By Zeyni Jafarov - Trend:
The sharp rise in stock indices from late last year through early 2021 was a good turning point in terms of profitability for many fund management companies, head of the research and investment consulting department of Azerbaijan’s Unicapital OJSC Seymur Ibadov told Trend on July 5.
“An auction on placement of another tranche of medium-term bonds of the Azerbaijani Ministry of Finance is scheduled for July 6 at the stock exchange in Baku while the envisaged volume on orders is 20 million manat ($11 million),” Ibadov added.
“The bonds with a face value of 100 manat ($58) each with a circulation period of 728 days will be put up for trading,” the head of the department said.
"The bond coupon at the upcoming auction has been reduced by six percent compared to the previous auction and if the demand for the state bonds during the auction exceeds the supply and the issuer is pleased with the price, the volume of offered bonds can be increased to 50 percent," Ibadov said.
In general, the Azerbaijani Ministry of Finance plans to issue 17 million medium-term bonds worth 1.7 billion manat ($1 million) for 2021.
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