BAKU, Azerbaijan, January 17. The Baku Stock Exchange has held today an auction on the placement of the Azerbaijani Finance Ministry's public bonds with a circulation period of 728 days, Trend reports via the exchange.
As many as 17 investors submitted 26 bids in the price range from 89.61 manat or $52.73 (12 percent) to 96.37 manat or $56.71 (eight percent) during the auction.
In accordance with the ministry's decision, the cut-off price of public bonds was set at 94.15 manat or $55.4 (9.27 percent), and the average weighted price stood at 94.35 manat or $55.52 (9.15 percent).
The total amount of bids at nominal prices amounted to 136.285 million manat ($80.2 million), while the placement volume totaled 50 million manat ($29.4 million).
The maturity date of the bonds is January 14, 2025.
During the auction, bonds offered by the issuer can be increased up to 50 percent if the demand for government bonds exceeds supply and the price satisfies the issuer.