By Trend

The Baku Stock Exchange (BSE) held an auction on the placement of medium-term government bonds of the Ministry of Finance of Azerbaijan for a total of 10 million manat ($5.88 million) with a maturity of 728 days on April 5, Trend reports citing the BSE.

According to the exchange, five investors submitted seven bids in the price range from $56.09 (6 percent) to $58.99 (3.35 percent) during the auction.

In accordance with the decision of the Ministry of Finance, the cut-off price of government bonds and the weighted average price were set at $58.44 (3.8355 percent). The total amount of bids at nominal prices amounted to 35.6 million manat ($20.1 million).