The Baku Stock Exchange held an auction on the placement of the Azerbaijani Finance Ministry’s public bonds worth 40 million manats ($23.5 million) with a circulation period of 728 days.
As many as 26 investors submitted 50 bids in the price range from 91.2 manats or $53.6 (11%) to 95.4 manats or $56.1 (8.5%) during the auction.
In accordance with the ministry’s decision, the cut-off price of public bonds was set at 92.35 manats or $54.3 (9.15%), and the average weighted price stood at 94.5 manats or $55.5 (9.0354%).
The total amount of bids at nominal prices amounted to 144.6 million manats ($85.06 million), while the placement volume totaled 47.05 million manats ($27.6 million).
The maturity date of the bonds is February 18, 2025. (Trend/Business World Magazine)