On April 16, an auction will be held at “Baku Stock Exchange” CJSC (BSE) for the placement of “BQ” OJSC’s 2 million manat worth of interest-bearing, unsecured, uncertificated, registered bonds.
“Elchi” reports this, citing the Exchange.
According to the information, 20,000 bonds, each with a nominal value of 100 manats, will be placed by means of a single-price auction and will be in circulation for 7 years. Their annual yield is 15%. Interests will be paid monthly. The underwriter of the process is “Invest-AZ Investment Company” CJSC. In addition, persons wishing to purchase bonds can also apply to other investment companies that are members of BSE.
The issuer is not intended to repurchase the bonds during the circulation period.
The issuer may repurchase the securities by mutual agreement during the circulation period.
Let us remind that Fərman Quliyev is the 100% shareholder of “BQ”. He is also, together with his father Eldar Quliyev, a shareholder of “Para” OJSC non-bank credit organization (NBCO).