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Financial news
Bulletine Finance 


2017 October 25 ( Wednesday )  17:42:05
Print version
Русский Azərbaycan

 

Korean Stock Exchange Again Invited to Expand Opportunities of Exchange Trading System in Baku

Baku / 25.10.17 / Turan: A delegation of the Korean Stock Exchange visiting Azerbaijan was accepted by the colleagues from the Baku Stock Exchange (BSE) on October 24. Apparently, 5.5 million US dollars, used in the framework of the World Bank project, were not sufficient for the normal functioning of the BSE trading platform.

According to the BSE, the parties discussed issues of expanding the opportunities of trading systems in the Baku Stock Exchange, the development of market instruments here, as well as the implementation of joint projects. The current trading system in the BSE is developed on the basis of the Korean trading platform.

A unified information system for the implementation of exchange trading and control over it was put into operation in the BSE in early February 2016. Then it was announced that the system that cost $ 5 million 546 thousand would work at the level of international standards. At the same time, information was provided that the new trading system allows market participants to use new instruments of exchange trade and "opens new prospects for the stock market." The trading system allows establishing transparent and fair prices in the stock market, as it was reported 1.5 years ago.

"The new trading system will improve the efficiency of the securities market and its attractiveness for investors," the World Bank"s Country and Financial and Private Sector Coordinator in the South Caucasus Angela Prighozhina said in February.

The new trading system was implemented in the framework of the WB Modernization of Capital Markets program with a total value of 12 million US dollars. -----08D

Yield of Medium-Term Government Bonds Falls by 2.3%

Baku / 25.10.17 / Turan: At the auction held on October 24 on placement of government bonds with a maturity of two years, the average weighted yield was 9.07% per annum. This is 2.3% less than in August of this year (11.37%), the Baku Stock Exchange reports.

Six investors took part at the auction. Some of them counted even on the yield at the level of 15% per annum. However, the Ministry of Finance agreed on the yield on debt securities at a maximum of 9.9%. The supply totaled AZN 5 million, and the demand was AZN 13.1 million.

This year, the Ministry of Finance issued medium-term bonds worth AZN 100 million to cover the state budget deficit. In general, the total volume of short-term (up to 1 year) and medium-term (up to 728 days) bonds is 700 million manat. In 2018, the government intends to issue government bonds in the same amount. ----08D

MET-AK Ready to Issue Securities

Baku / 29.03.17 / Turan: MET-AK, the manufacturer of steel and polymer pipes and fittings, polymer packaging, and agricultural products in Azerbaijan, reached an agreement with AzFinance Investment Company on the issue and placement of bonds.

The volume of the issue of corporate securities is not reported. According to the Baku Stock Exchange, at the next stage it is planned to list securities of MET-AK LLC.

MET-AK LLC joined the BSE Consultative Listing Program (CLP) in March this year with the aim of financing its business projects through capital markets. The company is a resident of Balakhani Industrial Park and Neftchala Industrial District. Currently, MET-AK LLC is building another production site in Sumgait.

MET-AK Ltd. (https://www.metak.az/az/company) has been operating since 1997 and belongs to the businessman Aydin Kerimov. The authorized capital of the company is AZN 12.3 million. ----08D--

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