15:59 - 11.10.2023

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October 11, Fineko/abc.az. On October 11, 2023, an auction was held at the Baku Stock Exchange on the placement of Central Bank’s notes with state registration number AZ2170024700 for AZN 10 million and with 28-day circulation term.

ABC.AZ was informed at the BSE that the auction did not take place as orders offered by investors during the auction did not meet the requirements set by the issuer regarding the number of participants in the terms of issue.

Only banks operating in Azerbaijan can participate in the auction. During the auction, one tender order can be submitted by one bank, and the limit on the volume of the tender order that must be submitted does not apply. The auction is considered to have failed if at the time of the auction the number of participants was less than 5.

Nevertheless, at the auction for the placement of 168-day notes for AZN 20 million, five investors submitted 5 orders with price range of 9,629.7057 manats (8.24%) and 9,637.9350 manats (8.05%). The total amount of orders at face value was 53,470,000 manats.

According to CBA’s decision, the cut-off price is set at 9,631.4370 (8.2%) manats, and the weighted average price is 9 632.5499 (8.17%) manats. The average yield at the auction on October 4 was 8.16%. The increase in bids is also an indicator that demand at the auction is weaker than before.