BAKU, Azerbaijan, The Baku Stock Exchange (BSE) held an auction on the placement of public bonds of Azerbaijan’s Finance Ministry with a circulation period of 1,092 days on September 27, Trend reports via the BSE.

According to the exchange, 16 investors submitted 30 bids in the price range from 96.3273 manat or $56.66 (6.8429 percent) to 99.2378 manat or $58.38 (5.7396 percent) during the auction.

In accordance with the decision of the Ministry of Finance, the cut-off price of public bonds was set at 97.0448 manat or $57.09 (6.5671 percent), while the average weighted price – at 97.9445 manat or $57.61 (6.2249 percent).

The total amount of bids at nominal prices amounted to over 87.38 million manat ($51.4 million), while the placement volume totaled 40 million manat ($23.5 million).

The maturity date of the bonds is June 24, 2025.

Source: TREND News Agency