BAKU, Azerbaijan, Sept. 15
By Zeyni Jafarov - Trend:
An auction for the placement of state medium-term bonds of the Ministry of Finance of Azerbaijan in the amount of 10 million manat ($5.8 million) with a circulation period of 1,092 days was held on the Baku Stock Exchange (BSE), Trend reports, referring to the Exchange.
According to the BSE, during the auction, 12 investors submitted 19 bids in the price range from 96 manat ($56.47) or seven percent, to 102.8 manat ($60.47) or 4.5 percent.
According to the decision of the Ministry of Finance, the cut-off price of the bonds was determined at the level of 101.7 manat ($59.82) or 4.88 percent, and the weighted average price – at 102.2 manat ($60.12) or 4.7 percent. The total amount of applications at nominal prices was about 73 million manat ($42.94 million), and the volume of placement was 15 million manat ($8.8 million), which indicates that demand exceeded supply by almost five times.
The maturity date of the securities is September 10, 2024.
The auction participants must fulfill their obligations to purchase bonds by the end of September 15, 2021.
(1 USD = 1.7 AZN on Sept.15)
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