By Trend

The Baku Stock Exchange (BSE) held an auction on the placement of public bonds of Azerbaijan’s Finance Ministry with a circulation period of 728 days on October 18, Trend reports via the BSE.

According to the exchange, 16 investors submitted 25 bids in the price range from 90.2486 manat or $53.08 (10 percent) to 98.1487 manat or $57.73 (5.49 percent) during the auction.

In accordance with the decision of the Ministry of Finance, the cut-off price of public bonds and the average weighted price were set at 98.1487 manat or $57.73 (5.49 percent).

The total amount of bids at nominal prices amounted to 106.1 million manat ($62.4 million), while the placement volume totaled 15 million manat ($8.8 million).

The maturity date of the bonds is October 15, 2024.