Azerbaijan's Finance Ministry to auction gov't bonds via Baku Stock Exchange

By Trend

The Baku Stock Exchange (BSE) will host an auction on the placement of medium-term government bonds of the Ministry of Finance of Azerbaijan for a total of 20 million manat ($11.7 million) on December 7, 2021, Trend reports referring to the BSE.

The collection of bids during the auction will take place from 11:00 to 12:30 (GMT+4) in accordance with the BSE trading regulations.

Information on the parameters of the bond issue is presented as following:

It’s allowed to accept non-competitive orders during the auction, provided that the bond issue doesn’t exceed 20 percent.

Besides, the issuer has the right to reject these bids if the volume of bids submitted by the auction participants for the purchase of bonds is below 20 percent of the volume of bonds put up by the issuer for the auction.

The volume of bonds offered by the issuer can be increased up to 50 percent if during the auction state bonds exceed the supply of demand and the issuer is pleased with the price.

Those wishing to participate in the auction should apply to investment companies being members of the stock exchange.